The pair Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline upwards
A bullish trend upwards to the next resistance line at 0.63890 is certain.
Caution: A possible reversal of the trend in the direction of the support line at is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Outside Up’ candle pattern is discovered. The candles show ‘Three Outside Up’. 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 success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 0.65043 |
2nd High | 0.64712 |
Next High | 0.63890 |
Current Price | 0.63561 |
Next Low | |
2nd Low | |
3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Up