AUD/USD – 4H – BUYThe combination Australian Dollar/US Dollar (AUD/USD) breaks through the bearish trendline upwards
A bullish movement up to the next resistance level at 0.62465 is likely expected.
Caution: A possible change in the direction of the support level at 0.61788 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three White Soldiers’ candle pattern is found. The chart forms ‘Three White Soldiers’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64291 |
| 2nd High | 0.62742 |
| Next High | 0.62465 |
| Current Price | 0.62503 |
| Next Low | 0.61788 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three White Soldiers