AUD/USD – 1H – BUYThe pair Australian Dollar/US Dollar (AUD/USD) goes from the ascending trendline upwards
A continuation of the upward movement up to the next resistance level at 0.62878 is likely expected.
Caution: A possible change in the direction of the support level at 0.61976 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Outside Up’ candlestick chart pattern is discovered. The chart forms ‘Three Outside Up’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63269 |
| 2nd High | 0.63021 |
| Next High | 0.62878 |
| Current Price | 0.62318 |
| Next Low | 0.61976 |
| 2nd Low | 0.61918 |
| 3rd Low | 0.61788 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Up