AUD/USD – 30M – BUYNext a ‘Hammer’ candlestick chart pattern is discovered. The candles show ‘Hammer’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Hammer’ going up is 60% (Bull Market) & 59% (Bear Market).
Next a ‘Double top chart pattern’ chart layout is detected. The chart picture forms ‘Double top chart pattern’. this is a bearish signal. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.65144 |
| Next High | 0.64641 |
| Current Price | 0.64132 |
| Next Low | 0.63652 |
| 2nd Low | 0.63557 |
| 3rd Low | 0.63434 |
0.64641 – 0.65144 – 0.64708 – 0.64211 – 0.64375 – 0.64425