AUD/USD – 1H – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the bearish trendline up.
The bullish trend up to the next resistance line at 0.62206 will persist.
Caution: A possible counter-trend in the direction of the support level at 0.61918 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Advance Block’ candle chart pattern is existing. The chart forms ‘Advance Block’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Advance Block’ heading down is 64% (Bull Market) & 61% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62465 |
| 2nd High | 0.62225 |
| Next High | 0.62206 |
| Current Price | 0.62126 |
| Next Low | 0.61918 |
| 2nd Low | 0.61788 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Advance Block