AUD/USD – 30M – BUYThe pair Australian Dollar/US Dollar (AUD/USD) breaks through the bearish trendline up.
A bullish ascent up to the next resistance level at 0.62191 is likely expected.
Caution: A possible trend reversal in the direction of the support zone at 0.61716 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Outside Up’ candle pattern is existing. The chart shows ‘Three Outside Up’. 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 probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62878 |
| 2nd High | 0.62358 |
| Next High | 0.62191 |
| Current Price | 0.61952 |
| Next Low | 0.61716 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Up