AUD/USD – 4H – BUYThe combination Australian Dollar/US Dollar (AUD/USD) breaks through the bearish trendline up.
A bullish trend up to the next resistance at 0.64553 is expected.
Caution: A possible change in the direction of the support line at 0.63990 could happen.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Target of the current trend is 0.64345416 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance zone at 0.64553 could happen.
Consider stop-loss settings accordingly.
In addition a ‘Three Outside Up’ candle pattern is detected. The candles show ‘Three Outside Up’. 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 chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65496 |
| 2nd High | 0.65277 |
| Next High | 0.64553 |
| Current Price | 0.64462 |
| Next Low | 0.63990 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Up