AUD/USD – 30M – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the bullish trendline up.
A continuation of the bullish trend up to the next resistance at 0.63315 is expected.
Caution: A possible counter-trend in the direction of the support level at 0.61354 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Current target is 0.62034 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of resistance at 0.63315 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Northern Doji’ chart pattern is detected. The chart shows ‘Northern Doji’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Additionally a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which could be a positive chart scenario. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63906 |
| 2nd High | 0.63887 |
| Next High | 0.63315 |
| Current Price | 0.62431 |
| Next Low | 0.61354 |
| 2nd Low | 0.61155 |
| 3rd Low | 0.59139 |
0.62034 – 0.61756 – 0.60851 – 0.61354 – 0.61155 – 0.59139
Trading Signals: FOREX – AUD – AUD/USD – USD – Northern Doji