AUD/USD – 30M – BUYThe pair Australian Dollar/US Dollar (AUD/USD) breaks through the bearish trendline upwards
A bullish ascent up to the next resistance line at 0.62483 will persist.
Caution: A possible counter-trend in the direction of the support level at 0.62258 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Current target is 0.62547132 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of resistance at 0.62483 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Outside Up’ chart pattern is found. The chart shows ‘Three Outside Up’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62646 |
| 2nd High | 0.62522 |
| Next High | 0.62483 |
| Current Price | 0.62429 |
| Next Low | 0.62258 |
| 2nd Low | 0.62241 |
| 3rd Low | 0.62184 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Up