AUD/USD – 30M – BUYThen a ‘Bullish Engulfing’ candle chart pattern is detected. The chart shows ‘Bullish Engulfing’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ going up is 63%.
Then a ‘Double top chart pattern’ chart formation is found. The formation shows ‘Double top chart pattern’. this is a bearish pattern signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65144 |
| 2nd High | 0.64641 |
| Next High | 0.64327 |
| Current Price | 0.64050 |
| Next Low | 0.64021 |
| 2nd Low | 0.63652 |
| 3rd Low | 0.63557 |
0.64327 – 0.64641 – 0.65144 – 0.64021 – 0.64211 – 0.64375
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Engulfing