Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Current target is 1.78702946 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.78811 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Northern Doji’ candlestick pattern is existing. The chart shows ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.80579 |
| 2nd High | 1.79358 |
| Next High | 1.78811 |
| Current Price | 1.77920 |
| Next Low | 1.76297 |
| 2nd Low | 1.76003 |
| 3rd Low | 1.75635 |
1.78811 – 1.79358 – 1.78091 – 1.76297 – 1.76453 – 1.76852 —
1.77865 – 1.77971 —
36.781631634204 – 39.154970235942 —
– —
1.78811 – 1763485200
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji – – – – –