AUD/USD – 30M – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the descending trendline up.
A bullish trend upwards to the next resistance level at 0.63833 is considered certain.
Caution: A possible reversal of the trend in the direction of the support zone at 0.63515 could occur.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Outside Up’ chart pattern is found. The candles show ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to rise. 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 | 0.64712 |
| 2nd High | 0.64291 |
| Next High | 0.63833 |
| Current Price | 0.63707 |
| Next Low | 0.63515 |
| 2nd Low | 0.63363 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Up