AUD/USD – 30M – BUYThe pair Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline up.
A continuation of the uptrend up to the next resistance line at 0.62225 will persist.
Caution: A possible counter-trend in the direction of the support zone at 0.62007 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Belt Hold’ chart pattern is detected. The candles show ‘Bullish Belt Hold’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62329 |
| 2nd High | 0.62313 |
| Next High | 0.62225 |
| Current Price | 0.62153 |
| Next Low | 0.62007 |
| 2nd Low | 0.61788 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Belt Hold