EUR/AUD – 1H – BUYIn addition a ‘Double bottom chart pattern’ chart pattern is detected. The chart shows ‘Double bottom chart pattern’. this is a bullish pattern signal. The currency pair is likely to go up.
The combination Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline up.
An ascending movement upwards to the next resistance line at 1.78759 is certain.
Caution: A possible change in the direction of the support zone at 1.77991 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bullish Belt Hold’ chart pattern is found. The chart forms ‘Bullish Belt Hold’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.79759 |
| 2nd High | 1.78991 |
| Next High | 1.78759 |
| Current Price | 1.78981 |
| Next Low | 1.77991 |
| 2nd Low | 1.77282 |
| 3rd Low | 1.7626 |
1.78759 – 1.78991 – 1.79759 – 1.77991 – 1.78522 – 1.78644 — 35.823736388664 – 61.749718877699 — 37.673196810774 – 45.202286475387 – 55.108581133364 – 48.364865469639
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Belt Hold – Double bottom chart pattern – –