AUD/USD – 1H – BUY

The currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the descending trendline up.

A bullish trend upwards to the next resistance level at 0.71361 is expected.

Caution: A possible reversal of the trend in the direction of the support level at 0.70665 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which could be a positive signal. The currency pair could go up.

Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is expected. Current target is 0.71361 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 0.71361 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

0.71361 – 0.71162 – 0.70733 – 0.70665 – 0.70727 – 0.70261 —
0.70992 – 0.71073 —
44.869645081776 – 48.974041572686 —
– —
0.71361 – 1772074800

Trading Signals: FOREX – AUD – AUD/USD – USD – Northern Doji – – – – – – – – –