AUD/USD – 1H – BUYThe combination Australian Dollar/US Dollar (AUD/USD) breaks through the bullish trendline up.
A continuation of the uptrend upwards to the next resistance level at 0.64585 is certain.
Caution: A possible trend reversal in the direction of the support level at 0.64070 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Northern Doji’ candlestick chart pattern is discovered. The candles form ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65006 |
| 2nd High | 0.64690 |
| Next High | 0.64585 |
| Current Price | 0.64949 |
| Next Low | 0.64070 |
| 2nd Low | 0.63914 |
| 3rd Low | 0.63874 |
0.64585 – 0.64690 – 0.64646 – 0.64070 – 0.63914 – 0.63977
Trading Signals: FOREX – AUD – AUD/USD – USD – Northern Doji