AUD/USD – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 1-Level.Continuation of the current ascending trend is certain. Target of the current trend is 0.6227433 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the resistance level at 0.62539 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bullish Engulfing’ candle chart pattern is found. The chart shows ‘Bullish Engulfing’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62742 |
| 2nd High | 0.62646 |
| Next High | 0.62539 |
| Current Price | 0.62227 |
| Next Low | 0.62184 |
| 2nd Low | 0.62147 |
| 3rd Low | 0.61987 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Engulfing