Additionally a ‘Falling Wedge Chart Pattern’ chart pattern is detected. The chart forms ‘Falling Wedge Chart Pattern’. this is a bullish chart scenario. The pair is likely to go up.
The currency pair Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline upwards
A bullish trend upwards to the next resistance at 1.77512 will continue.
Caution: A possible counter-trend in the direction of the support line at 1.76260 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bullish signal. The currency pair could go up.
Additionally a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. which could be a positive signal. The pair is likely to go up.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Current target is 1.773305 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance line at 1.77512 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Northern Doji’ candle chart pattern is discovered. The candles form ‘Northern Doji’. which is a positive chart scenario. The currency 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 | 1.78228 |
2nd High | 1.77565 |
Next High | 1.77512 |
Current Price | 1.77147 |
Next Low | 1.76260 |
2nd Low | 1.75118 |
3rd Low | 1.74973 |
1.77512 – 1.77565 – 1.78228 – 1.76260 – 1.76771 – 1.76632
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji