EUR/AUD – 1H – BUY

Moreover a ‘Falling Wedge Chart Pattern’ chart formation is found. The chart picture forms ‘Falling Wedge Chart Pattern’. which is a bullish pattern signal. The currency pair is likely to rise.

The currency pair Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline up.

An ascending movement upwards to the next resistance at 1.77512 is expected.

Caution: A possible reversal of the trend in the direction of the support level at 1.76260 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. which could be a positive chart scenario. The currency pair is likely to rise.

Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 1.78280806 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 1.77512 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Northern Doji’ candle chart pattern is found. The candles show ‘Northern Doji’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.77512 – 1.77565 – 1.78228 – 1.76260 – 1.76632 – 1.76883

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji