AUD/USD – 30M – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the bullish trendline up.
A continuation of the bullish trend up to the next resistance level at 0.63269 is expected.
Caution: A possible trend reversal in the direction of the support zone at 0.62049 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Target of the current trend is 0.62395 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at 0.63269 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Outside Up’ candle pattern is existing. The chart forms ‘Three Outside Up’. which is a positive pattern signal. The currency pair is likely to go up. 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 | 0.63775 |
| 2nd High | 0.63548 |
| Next High | 0.63269 |
| Current Price | 0.62850 |
| Next Low | 0.62049 |
| 2nd Low | 0.61976 |
| 3rd Low | 0.61918 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Up