EUR/AUD Is at a Crossroads

EUR/AUD is at something of a crossroads considering the candlesticks the pair has formed on the weekly and the daily time-frames. On the longer time-frame, the weekly one, the pair has formed a very clear doji candlestick at 1.6190 and then it has started moving to the downside, reaching a low at 1.5900. On the other hand, the pair has also formed two inverted hammer candlesticks on the daily time-frame at that same low. The question is which one of these signals is more trustworthy. Obviously the doji candlestick is a signal for indecision, not necessarily for a reversal, while the candlesticks on the daily time-frame mean that there may be a new move to the upside. Even if there is one, the continuation of the bullish trend won’t be confirmed before there is a breakout above the last high at 1.6190.