AUD/USD – 1H – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the descending trendline up.
An ascent upwards to the next resistance level at 0.64446 will persist.
Caution: A possible trend reversal in the direction of the support level at 0.63724 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish SBS White Lines’ candlestick chart pattern is detected. The candles show ‘Bearish SBS White Lines’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65043 |
| 2nd High | 0.64553 |
| Next High | 0.64446 |
| Current Price | 0.63972 |
| Next Low | 0.63724 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish SBS White Lines