AUD/USD – 30M – BUYThe pair Australian Dollar/US Dollar (AUD/USD) breaks through the bearish trendline upwards
The bullish trend up to the next resistance line at 0.64431 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 0.64211 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bullish Engulfing’ candle pattern is detected. The candles form ‘Bullish Engulfing’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65043 |
| 2nd High | 0.64935 |
| Next High | 0.64431 |
| Current Price | 0.64336 |
| Next Low | 0.64211 |
| 2nd Low | 0.63990 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Engulfing