AUD/USD – 30M – BUYThe combination Australian Dollar/US Dollar (AUD/USD) breaks through the descending trendline upwards
The bullish trend up to the next resistance line at 0.63769 is expected.
Caution: A possible trend reversal in the direction of support at 0.63447 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Three Outside Up’ candlestick chart pattern is found. The chart forms ‘Three Outside Up’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63833 |
| 2nd High | 0.63824 |
| Next High | 0.63769 |
| Current Price | 0.63761 |
| Next Low | 0.63447 |
| 2nd Low | 0.63363 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Up