EUR/AUD – 1H – BUY

Also there is a ‘Double bottom chart pattern’ chart formation is detected. The chart shows ‘Double bottom chart pattern’. this is a bullish signal. The currency pair is likely to go up.

The combination Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.

The bullish trend upwards to the next resistance line at 1.78259 will persist.

Caution: A possible change in the direction of the support line at 1.77652 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Northern Doji’ chart pattern is detected. The candles show ‘Northern Doji’. which is a positive pattern signal. 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).

1.78259 – 1.77666 – 1.76682 – 1.77652 – 1.76221 – 1.76018 — 62.731994664239 – 66.281995659793 — 88.051654130334 – 90.152876700171 – 81.408436183628 – 85.690043052664

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji – Double bottom chart pattern – –