EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at 1.79059 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 1.79629 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Northern Doji’ chart pattern is discovered. The chart shows ‘Northern Doji’. which is a positive 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’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.79739 |
| 2nd High | 1.79735 |
| Next High | 1.79629 |
| Current Price | 1.79497 |
| Next Low | 1.79059 |
| 2nd Low | 1.78849 |
| 3rd Low | 1.78332 |
1.79629 – 1.79735 – 1.79641 – 1.79059 – 1.78849 – 1.78902
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji – Double bottom chart pattern