EUR/AUD – 1H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.
The bullish trend upwards to the next resistance level at 1.78759 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 1.77282 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Northern Doji’ candlestick chart pattern is detected. The chart shows ‘Northern Doji’. 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 probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.79759 |
| 2nd High | 1.78991 |
| Next High | 1.78759 |
| Current Price | 1.77257 |
| Next Low | 1.77282 |
| 2nd Low | 1.7626 |
| 3rd Low | 1.74973 |
1.78759 – 1.78991 – 1.79759 – 1.77854 – 1.78136 – 1.77991 — 25.777376319372 – 26.964198575667 — 19.524844970605 – 32.126922767174 – 9.4418941773375 – 19.446994711551
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji – Double bottom chart pattern – –