EUR/AUD – 1H – BUY

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

A bullish movement up to the next resistance at 1.6593 will persist.

Caution: A possible change in the direction of the support level at 1.64241 could happen.
Consider stop-loss settings accordingly.

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish chart scenario. The pair is likely to go up.

Next a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. this is usually a bullish signal. The currency pair could go up.

Next a ‘Bearish SBS White Lines’ candlestick chart pattern is discovered. The candles show ‘Bearish SBS White Lines’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).

1.6593 – 1.66273 – 1.67194 – 1.64241 – 1.6425 – 1.65597 —
1.65122 – 1.65820 —
56.04973413545 – 60.452572178496 —
– —
1.6593 – 1772604000

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish SBS White Lines – Rising Wedge Chart Pattern – – – – – – – –