AUD/USD – 4H – BUYThe pair Australian Dollar/US Dollar (AUD/USD) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance level at 0.64690 is expected.
Caution: A possible counter-trend in the direction of support at 0.63914 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 0.65144 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance level at 0.64690 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Northern Doji’ candle chart pattern is discovered. The chart shows ‘Northern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Next a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which is often a bullish signal. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65144 |
| 2nd High | 0.65006 |
| Next High | 0.64690 |
| Current Price | 0.64960 |
| Next Low | 0.63914 |
| 2nd Low | 0.63874 |
| 3rd Low | 0.63562 |
0.64690 – 0.64646 – 0.65006 – 0.63914 – 0.63874 – 0.63562
Trading Signals: FOREX – AUD – AUD/USD – USD – Northern Doji