AUD/USD – 30M – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) jumps from the descending trendline up.
The bullish trend upwards to the next resistance level at 0.64641 is likely expected.
Caution: A possible change in the direction of support at 0.64211 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Northern Doji’ candle pattern is detected. The candles show ‘Northern Doji’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Additionally a ‘Double top chart pattern’ chart formation is detected. The chart picture forms ‘Double top chart pattern’. which is a bearish signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.65144 |
| Next High | 0.64641 |
| Current Price | 0.64199 |
| Next Low | 0.64211 |
| 2nd Low | 0.63652 |
| 3rd Low | 0.63557 |
0.64641 – 0.65144 – 0.64708 – 0.64211 – 0.64375 – 0.64425
Trading Signals: FOREX – AUD – AUD/USD – USD – Northern Doji