AUD/USD – 1H – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) moves from the ascending trendline downwards
A bearish trend down to the next support at 0.62258 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 0.62539 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Outside Up’ candle chart pattern is detected. The candles show ‘Three Outside Up’. which is a positive pattern 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 | 0.62742 |
| 2nd High | 0.62646 |
| Next High | 0.62539 |
| Current Price | 0.62312 |
| Next Low | 0.62258 |
| 2nd Low | 0.62241 |
| 3rd Low | 0.62184 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Up