AUD/USD – 30M – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the bearish trendline upwards
A bullish movement upwards to the next resistance level at 0.62040 is likely expected.
Caution: A possible trend reversal in the direction of the support level at 0.61890 could happen.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bearish SBS White Lines’ candlestick chart pattern is detected. The candles form ‘Bearish SBS White Lines’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62358 |
| 2nd High | 0.62191 |
| Next High | 0.62040 |
| Current Price | 0.61909 |
| Next Low | 0.61890 |
| 2nd Low | 0.61716 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish SBS White Lines