Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

EUR/AUD Continues To Fall Inside The Clear Up Channel

Published 09/22/2016, 07:55 AM
Updated 03/09/2019, 08:30 AM

EUR/AUD continues to fall inside the clear up channel, which was previously identified by Autochartist on the daily charts. Autochartist rates the overall quality of this chart pattern at the 6-bar level – which is the result of the above-average initial trend (6 bars), lower uniformity (4 bars) and near-maximum clarity (9 bars). Higher clarity reflects the sharpness of the price impulses between the upper and lower trendlines of this up channel. EUR/AUD is likely to fall further inside this chart pattern.

EUR/AUD 32 Candles 1440 Minute Chart

The top of this up channel formed when EUR/AUD reversed down with the weekly Japanese candlesticks reversal pattern falling star (highlighted below) from the resistance zone lying between the resistance level 1.5000 and the 50% Fibonacci correction of the previous sharp downward impulse 1 from May. The proximity of this resistance zone adds to the probability EUR/AUD will continue to fall inside this up channel.

EUR/AUD 1 Week Chart

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.