AUD/USD – 4H – BUYThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline up.
An ascent upwards to the next resistance line at 0.65277 is considered certain.
Caution: A possible counter-trend in the direction of the support zone at should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bullish Engulfing’ chart pattern is existing. The candles show ‘Bullish Engulfing’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.66875 |
| 2nd High | 0.65496 |
| Next High | 0.65277 |
| Current Price | 0.64362 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Engulfing