AUD/USD – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 0.629055 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.62650 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three White Soldiers’ candle pattern is detected. The candles form ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63775 |
| 2nd High | 0.63269 |
| Next High | 0.62650 |
| Current Price | 0.62648 |
| Next Low | 0.62147 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three White Soldiers