EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline up.
A bullish movement upwards to the next resistance level at 1.76222 will continue.
Caution: A possible trend reversal in the direction of the support level at 1.75291 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Northern Doji’ candlestick chart pattern is found. The candles show ‘Northern Doji’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.77520 |
| 2nd High | 1.76719 |
| Next High | 1.76222 |
| Current Price | 1.76116 |
| 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