AUD/USD – 4H – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the bearish trendline up.
The bullish trend up to the next resistance line at 0.62465 is likely expected.
Caution: A possible reversal of the trend in the direction of the support zone at 0.61788 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Outside Up’ candlestick pattern is discovered. The candles form ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64291 |
| 2nd High | 0.62742 |
| Next High | 0.62465 |
| Current Price | 0.62153 |
| Next Low | 0.61788 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Up