AUD/USD – 1H – BUYThe pair Australian Dollar/US Dollar (AUD/USD) moves from the bearish trendline downwards
A continuation of the downtrend down to the next support level at 0.63724 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 0.64712 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Current target is 0.64218 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance line at 0.64712 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three White Soldiers’ candle pattern is existing. The candles form ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65259 |
| 2nd High | 0.65043 |
| Next High | 0.64712 |
| Current Price | 0.63970 |
| Next Low | 0.63724 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three White Soldiers