AUD/USD – 4H – BUYThe combination Australian Dollar/US Dollar (AUD/USD) goes from the bearish trendline up.
A bullish trend up to the next resistance line at 0.63887 is likely expected.
Caution: A possible change in the direction of the support level at 0.59326 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Northern Doji’ candle pattern is existing. The candles form ‘Northern Doji’. this 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 ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Next a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. which could be a positive chart signal. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.63906 |
| Next High | 0.63887 |
| Current Price | 0.59752 |
| Next Low | 0.59326 |
| 2nd Low | |
| 3rd Low |
0.63887 – 0.63302 – 0.63906 – 0.59326 – 0.62184 – 0.62576
Trading Signals: FOREX – AUD – AUD/USD – USD – Northern Doji