EUR/AUD – 1H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) goes from the bullish trendline downwards
A bearish descent down to the next support at is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.75840 should always be considered.
Consider stop-loss settings accordingly.
Besides a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish chart signal. The currency pair is likely to fall.
Besides a ‘Tweezers Top’ candle pattern is found. The chart forms ‘Tweezers Top’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.77520 |
| 2nd High | 1.76294 |
| Next High | 1.75840 |
| Current Price | 1.75497 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.75840 – 1.76294 – 1.76222 – 1.75144 – 1.75042 – 1.75291
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Tweezers Top