EUR/AUD – 1H – BUY

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

The bullish trend up to the next resistance level at 1.6593 is certain.

Caution: A possible counter-trend in the direction of the support level at could be enabled.
Consider stop-loss settings accordingly.

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart signal. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is certain. Current target is 1.657175 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance level at 1.6593 could be enabled.
Consider stop-loss settings accordingly.

Furthermore a ‘Three Outside Up’ chart pattern is existing. The candles form ‘Three Outside Up’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

1.6593 – 1.66273 – 1.67194 – 1.64241 – 1.6425 – 1.65597 —
1.65011 – 1.65244 —
56.320738336012 – 52.823319414959 —
– —
1.6593 – 1772604000

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up – – – – – – – – –