AUD/USD – 4H – BUYThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the ascending trendline down.
A descent down to the next support level at 0.61987 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.62742 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three White Soldiers’ candle chart pattern is detected. The candles form ‘Three White Soldiers’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64712 |
| 2nd High | 0.64291 |
| Next High | 0.62742 |
| Current Price | 0.62399 |
| Next Low | 0.61987 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three White Soldiers