AUD/USD – 1H – BUYThe combination Australian Dollar/US Dollar (AUD/USD) breaks through the bullish trendline upwards
A continuation of the upward movement up to the next resistance line at 0.65899 is certain.
Caution: A possible trend reversal in the direction of the support line at 0.65534 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Northern Doji’ candlestick chart pattern is detected. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.65899 |
| Current Price | 0.65807 |
| Next Low | 0.65534 |
| 2nd Low | 0.65225 |
| 3rd Low | 0.65078 |
0.65899 – 0.65636 – 0.65190 – 0.65534 – 0.65225 – 0.65078
Trading Signals: FOREX – AUD – AUD/USD – USD – Northern Doji – Inverse Head and Shoulder chart pattern