AUD/USD – 1H – BUY

The combination Australian Dollar/US Dollar (AUD/USD) breaks through the ascending trendline upwards

A continuation of the uptrend upwards to the next resistance at 0.72274 is likely expected.

Caution: A possible counter-trend in the direction of the support level at 0.71353 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Bullish Engulfing’ chart pattern is discovered. The candles form ‘Bullish Engulfing’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ heading up is 63%.

0.72274 – 0.72048 – 0.71893 – 0.71353 – 0.7183 – 0.71012 —
0.72080 – 0.72491 —
67.855477989045 – 81.121536528317 —
– —
0.72274 – 1777654800

Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Engulfing – – – – – – – – –