AUD/USD – 30M – BUYThe combination Australian Dollar/US Dollar (AUD/USD) breaks through the descending trendline upwards
An ascent upwards to the next resistance level at 0.63769 is likely expected.
Caution: A possible change in the direction of the support level at 0.63447 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Latter Bottom’ candle chart pattern is detected. The candles form ‘Latter Bottom’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Latter Bottom’ going up is 56% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63833 |
| 2nd High | 0.63824 |
| Next High | 0.63769 |
| Current Price | 0.63729 |
| Next Low | 0.63447 |
| 2nd Low | 0.63363 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Latter Bottom