AUD/USD – 30M – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support at 0.64954 will continue.
Caution: A possible counter-trend in the direction of resistance at 0.65259 could occur.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three White Soldiers’ chart pattern is detected. The chart forms ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65496 |
| 2nd High | 0.65277 |
| Next High | 0.65259 |
| Current Price | 0.65005 |
| Next Low | 0.64954 |
| 2nd Low | 0.64882 |
| 3rd Low | 0.64769 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three White Soldiers