The pair Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline upwards
An ascent up to the next resistance level at 1.75840 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 1.75223 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Northern Doji’ chart pattern is discovered. The candles form ‘Northern Doji’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going 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 | 1.75102 |
Next Low | 1.75223 |
2nd Low | 1.75144 |
3rd Low | 1.75042 |
1.75840 – 1.75766 – 1.76294 – 1.75223 – 1.75144 – 1.75042
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji