EUR/AUD – 30M – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support level at 1.78987 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.79739 could happen.
Consider stop-loss settings accordingly.
There is also a ‘Matching Low’ candle pattern is discovered. The chart shows ‘Matching Low’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.79904 |
| 2nd High | 1.79833 |
| Next High | 1.79739 |
| Current Price | 1.79524 |
| Next Low | 1.78987 |
| 2nd Low | 1.78332 |
| 3rd Low | 1.78112 |
1.79739 – 1.79415 – 1.79344 – 1.78987 – 1.78332 – 1.78585
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low – Rising Wedge Chart Pattern