AUD/USD – 4H – BUY

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

A continuation of the bullish trend up to the next resistance level at 0.72772 is expected.

Caution: A possible trend reversal in the direction of the support line at 0.71353 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is expected. Current target is 0.72772 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the resistance level at 0.72772 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Advance Block’ chart pattern is discovered. The candles show ‘Advance Block’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Advance Block’ heading down is 64% (Bull Market) & 61% (Bear Market).

0.72772 – 0.72274 – 0.71995 – 0.71353 – 0.71012 – 0.71107 —
0.72638 – 0.72485 —
65.728108755222 – 57.092040972475 —
– —
0.72772 – 1778068800

Trading Signals: FOREX – AUD – AUD/USD – USD – Advance Block – Symmetrical Triangle Chart Pattern – – – – – – – –