AUD/USD – 30M – BUYThe pair Australian Dollar/US Dollar (AUD/USD) moves from the ascending trendline up.
A continuation of the uptrend upwards to the next resistance line at 0.62742 will continue.
Caution: A possible trend reversal in the direction of support at 0.62437 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bullish Engulfing’ candlestick chart pattern is existing. The chart shows ‘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 probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63548 |
| 2nd High | 0.63269 |
| Next High | 0.62742 |
| Current Price | 0.62545 |
| Next Low | 0.62437 |
| 2nd Low | 0.62147 |
| 3rd Low | 0.61987 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Engulfing