AUD/USD – 4H – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) goes from the bearish trendline upwards
The bullish trend up to the next resistance level at 0.64291 is considered certain.
Caution: A possible change in the direction of support at 0.61987 should be noted.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish SBS White Lines’ candlestick chart pattern is existing. The chart forms ‘Bearish SBS White Lines’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65277 |
| 2nd High | 0.64712 |
| Next High | 0.64291 |
| Current Price | 0.62582 |
| Next Low | 0.61987 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish SBS White Lines