AUD/USD – 4H – BUYThe combination Australian Dollar/US Dollar (AUD/USD) goes from the descending trendline upwards
A bullish movement upwards to the next resistance line at 0.65277 is likely expected.
Caution: A possible trend reversal in the direction of support at 0.63724 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish SBS White Lines’ candle pattern is found. The chart forms ‘Bearish SBS White Lines’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.66875 |
| 2nd High | 0.65496 |
| Next High | 0.65277 |
| Current Price | 0.63744 |
| Next Low | 0.63724 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish SBS White Lines