AUD/USD – 1H – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance line at 0.62465 is expected.
Caution: A possible trend reversal in the direction of the support line at 0.61976 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three White Soldiers’ candle chart pattern is found. The candles show ‘Three White Soldiers’. which is a bullish 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 White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62646 |
| 2nd High | 0.62539 |
| Next High | 0.62465 |
| Current Price | 0.62452 |
| Next Low | 0.61976 |
| 2nd Low | 0.61918 |
| 3rd Low | 0.61788 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three White Soldiers