AUD/USD – 1H – BUYThe combination Australian Dollar/US Dollar (AUD/USD) moves from the ascending trendline down.
A bearish trend downwards to the next support level at 0.62241 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 0.62646 could happen.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Line Strike – Bullish’ chart pattern is detected. The chart forms ‘Three Line Strike – Bullish’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Line Strike – Bullish’ going up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63269 |
| 2nd High | 0.62742 |
| Next High | 0.62646 |
| Current Price | 0.62367 |
| Next Low | 0.62241 |
| 2nd Low | 0.62184 |
| 3rd Low | 0.62147 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Line Strike – Bullish