AUD/USD – 30M – BUYThe pair Australian Dollar/US Dollar (AUD/USD) goes from the ascending trendline downwards
A bearish descent down to the next support at 0.61976 is likely expected.
Caution: A possible change in the direction of resistance at 0.62313 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bullish Belt Hold’ candlestick chart pattern is found. The chart shows ‘Bullish Belt Hold’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62465 |
| 2nd High | 0.62329 |
| Next High | 0.62313 |
| Current Price | 0.62310 |
| Next Low | 0.61976 |
| 2nd Low | 0.61918 |
| 3rd Low | 0.61788 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Belt Hold