AUD/USD – 4H – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the bullish trendline up.
A continuation of the uptrend upwards to the next resistance level at 0.71871 is certain.
Caution: A possible counter-trend in the direction of the support level at 0.69869 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Outside Up’ candle pattern is discovered. The candles form ‘Three Outside Up’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.71871 |
| Current Price | 0.71626 |
| Next Low | 0.69869 |
| 2nd Low | 0.68594 |
| 3rd Low | 0.68329 |
0.70944 – 0.70842 – 0.69631 – 0.69869 – 0.68594 – 0.68329 —
0.71691 – 0.71650 —
65.340883158134 – 51.449250021446 —
– —
0.70944 – 1775764800
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Up – Symmetrical Triangle Chart Pattern – – – – – – – –