AUD/USD – 30M – BUYThe pair Australian Dollar/US Dollar (AUD/USD) jumps from the descending trendline up.
A bullish trend up to the next resistance level at 0.64446 is certain.
Caution: A possible trend reversal in the direction of the support level at 0.63724 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Current target is 0.641385 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.64446 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish SBS White Lines’ chart pattern is existing. The chart forms ‘Bearish SBS White Lines’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64935 |
| 2nd High | 0.64553 |
| Next High | 0.64446 |
| Current Price | 0.63975 |
| Next Low | 0.63724 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish SBS White Lines