AUD/USD – 30M – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the descending trendline upwards
A bullish ascent upwards to the next resistance line at 0.62251 is considered certain.
Caution: A possible change in the direction of the support zone at 0.62049 could be enabled.
Consider stop-loss settings accordingly.
Additionally a ‘Bearish SBS White Lines’ candlestick chart pattern is discovered. The candles form ‘Bearish SBS White Lines’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62329 |
| 2nd High | 0.62313 |
| Next High | 0.62251 |
| Current Price | 0.62299 |
| Next Low | 0.62049 |
| 2nd Low | 0.61976 |
| 3rd Low | 0.61918 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish SBS White Lines