AUD/USD – 4H – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) goes from the ascending trendline upwards
A continuation of the uptrend up to the next resistance level at 0.62465 will persist.
Caution: A possible trend reversal in the direction of the support line at 0.62002 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0-Level.Continuation of the current ascending trend will persist. Current target is 0.626301 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.62465 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Three White Soldiers’ candle pattern is detected. The candles show ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64291 |
| 2nd High | 0.62742 |
| Next High | 0.62465 |
| Current Price | 0.62166 |
| Next Low | 0.62002 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three White Soldiers