EUR/AUD – 1H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the descending trendline down.
A continuation of the downtrend down to the next support level at 1.73858 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.75840 could be enabled.
Consider stop-loss settings accordingly.
Furthermore a ‘Northern Doji’ candle chart pattern is discovered. The chart forms ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. 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).
Furthermore a ‘Double top chart pattern’ chart pattern is discovered. The chart forms ‘Double top chart pattern’. which is a negative signal. The currency pair is likely to fall.
Furthermore a ‘Support Level’ indicator layout is detected. The indicator shows ‘Support Level’. which is often a bearish chart scenario. The currency pair could go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.77520 |
| 2nd High | 1.76294 |
| Next High | 1.75840 |
| Current Price | 1.74765 |
| Next Low | 1.73858 |
| 2nd Low | 1.71120 |
| 3rd Low | 1.71044 |
1.75840 – 1.76294 – 1.76222 – 1.75144 – 1.75042 – 1.75291
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji