AUD/USD – 1H – BUYThe 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 0.65237 will persist.
Caution: A possible trend reversal in the direction of the support level at 0.64819 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three White Soldiers’ chart pattern is found. The candles form ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65815 |
| 2nd High | 0.65457 |
| Next High | 0.65237 |
| Current Price | 0.65322 |
| Next Low | 0.64819 |
| 2nd Low | 0.64476 |
| 3rd Low | 0.64426 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three White Soldiers