AUD/USD – 30M – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the descending trendline upwards
The bullish trend up to the next resistance at 0.64553 is certain.
Caution: A possible change in the direction of support at 0.64193 is within the realm of possibility.
Consider stop-loss settings accordingly.
Then a ‘Bearish SBS White Lines’ chart pattern is found. The chart shows ‘Bearish SBS White Lines’. which is a negative 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 | 0.65043 |
| 2nd High | 0.64935 |
| Next High | 0.64553 |
| Current Price | 0.64273 |
| Next Low | 0.64193 |
| 2nd Low | 0.63990 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish SBS White Lines