AUD/USD – 30M – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the descending trendline up.
An ascending movement up to the next resistance at 0.62056 is likely expected.
Caution: A possible change in the direction of the support line at 0.61878 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Two-Candle Shooting Star’ candlestick pattern is discovered. The candles show ‘Two-Candle Shooting Star’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two-Candle Shooting Star’ going down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62358 |
| 2nd High | 0.62191 |
| Next High | 0.62056 |
| Current Price | 0.61891 |
| Next Low | 0.61878 |
| 2nd Low | 0.61716 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Two-Candle Shooting Star