EUR/AUD – 30M – BUY

The currency pair Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline upwards

A bullish ascent upwards to the next resistance at 1.67602 is considered certain.

Caution: A possible trend reversal in the direction of the support line at 1.6704 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘StochRSI %K line crosses above %D line’ indicator signal is detected. The indicator is ‘StochRSI %K line crosses above %D line’. which is often a bullish signal. The currency pair could go up.

Then a ‘RSI Bullish Divergence’ indicator signal is detected. The indicator is ‘RSI Bullish Divergence’. which is often a bullish signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is considered certain. Current target is 1.6753 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of resistance at 1.67602 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Three Outside Up’ candle pattern is found. The chart shows ‘Three Outside Up’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

1.67602 – 1.67619 – 1.6802 – 1.6704 – 1.67135 – 1.67121 —
1.67367 – 1.67302 —
52.774708350209 – 44.674313330094 —
– —
1.67602 – 1771430400

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up – Double top chart pattern – – – – – – – –