EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.
An ascending movement upwards to the next resistance level at 1.76222 is expected.
Caution: A possible reversal of the trend in the direction of support at 1.75291 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Northern Doji’ candle chart pattern is detected. The chart forms ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
In addition a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which could be a positive chart scenario. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.77520 |
| 2nd High | 1.76719 |
| Next High | 1.76222 |
| Current Price | 1.76039 |
| Next Low | 1.75291 |
| 2nd Low | 1.73858 |
| 3rd Low | 1.73686 |
1.76222 – 1.75754 – 1.75312 – 1.75291 – 1.75505 – 1.73858
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji