AUD/USD – 1H – BUYThe combination Australian Dollar/US Dollar (AUD/USD) breaks through the bearish trendline upwards
A bullish ascent up to the next resistance line at 0.62650 is expected.
Caution: A possible trend reversal in the direction of the support level at 0.61987 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bullish Engulfing’ chart pattern is discovered. The candles show ‘Bullish Engulfing’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63775 |
| 2nd High | 0.63269 |
| Next High | 0.62650 |
| Current Price | 0.62418 |
| Next Low | 0.61987 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Engulfing