AUD/USD – 30M – BUYThe combination Australian Dollar/US Dollar (AUD/USD) breaks through the bearish trendline up.
A bullish movement up to the next resistance line at 0.62650 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 0.62147 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Current target is 0.62881 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of resistance at 0.62650 could occur.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Outside Up’ candlestick 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 success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63548 |
| 2nd High | 0.63269 |
| Next High | 0.62650 |
| Current Price | 0.62462 |
| Next Low | 0.62147 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Up