AUD/USD – 30M – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the bearish trendline up.
A bullish trend up to the next resistance at 0.63021 is considered certain.
Caution: A possible reversal of the trend in the direction of support at 0.62049 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bearish SBS White Lines’ candlestick chart pattern is detected. The candles form ‘Bearish SBS White Lines’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63548 |
| 2nd High | 0.63269 |
| Next High | 0.63021 |
| Current Price | 0.62413 |
| Next Low | 0.62049 |
| 2nd Low | 0.61976 |
| 3rd Low | 0.61918 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish SBS White Lines