EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 1.74308 is considered certain.
Caution: A possible change in the direction of the resistance level at 1.75840 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Northern Doji’ candle chart pattern is found. The candles show ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.76719 |
| 2nd High | 1.76294 |
| Next High | 1.75840 |
| Current Price | 1.74474 |
| Next Low | 1.74308 |
| 2nd Low | 1.73858 |
| 3rd Low | 1.73686 |
1.75840 – 1.75766 – 1.76294 – 1.74308 – 1.75223 – 1.75144
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji