AUD/USD – 30M – BUYThe combination Australian Dollar/US Dollar (AUD/USD) breaks through the bearish trendline up.
A bullish ascent up to the next resistance line at 0.65005 is certain.
Caution: A possible change in the direction of the support zone at 0.64474 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Inverted Hammer’ chart pattern is detected. The chart shows ‘Inverted Hammer’. 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 ‘Inverted Hammer’ going up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65271 |
| 2nd High | 0.65073 |
| Next High | 0.65005 |
| Current Price | 0.64970 |
| Next Low | 0.64474 |
| 2nd Low | 0.64337 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Inverted Hammer