AUD/USD – 1H – BUYThe combination Australian Dollar/US Dollar (AUD/USD) goes from the ascending trendline downwards
A bearish trend down to the next support level at 0.62147 is considered certain.
Caution: A possible change in the direction of the resistance line at 0.62646 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bullish Meeting Lines’ candle chart pattern is detected. The candles show ‘Bullish Meeting Lines’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Meeting Lines’ heading up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63269 |
| 2nd High | 0.62742 |
| Next High | 0.62646 |
| Current Price | 0.62444 |
| Next Low | 0.62147 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Meeting Lines