AUD/USD – 1H – BUYThe pair Australian Dollar/US Dollar (AUD/USD) goes from the ascending trendline down.
A descending movement down to the next support line at 0.63724 will persist.
Caution: A possible change in the direction of the resistance line at 0.64712 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bullish Engulfing’ candle chart pattern is detected. The candles show ‘Bullish Engulfing’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65259 |
| 2nd High | 0.65043 |
| Next High | 0.64712 |
| Current Price | 0.63919 |
| Next Low | 0.63724 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Engulfing