AUD/USD – 1H – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) goes from the bullish trendline up.
A continuation of the uptrend up to the next resistance line at 0.62465 will continue.
Caution: A possible change in the direction of the support level at 0.61788 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Current target is 0.62265 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance level at 0.62465 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three White Soldiers’ candlestick pattern is existing. The chart shows ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62646 |
| 2nd High | 0.62539 |
| Next High | 0.62465 |
| Current Price | 0.62222 |
| Next Low | 0.61788 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three White Soldiers