AUD/USD – 1H – BUYThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the ascending trendline upwards
A continuation of the bullish trend upwards to the next resistance level at 0.62646 will persist.
Caution: A possible trend reversal in the direction of the support zone at 0.62241 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Three Outside Up’ candlestick chart pattern is found. The candles form ‘Three Outside Up’. which is a bullish pattern signal. The pair is likely to go up. 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 | 0.63269 |
| 2nd High | 0.62742 |
| Next High | 0.62646 |
| Current Price | 0.62337 |
| Next Low | 0.62241 |
| 2nd Low | 0.62184 |
| 3rd Low | 0.62147 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Up