AUD/USD – 30M – BUYThe pair Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support level at 0.63363 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 0.64291 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three White Soldiers’ candlestick pattern is found. The chart forms ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64935 |
| 2nd High | 0.64712 |
| Next High | 0.64291 |
| Current Price | 0.63616 |
| Next Low | 0.63363 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three White Soldiers