AUD/USD – 1H – BUYAlso there is a ‘Double top retreat up’ chart layout is discovered. The chart picture shows ‘Double top retreat up’. which is a positive pattern signal. The currency pair is likely to go up.
The currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the bearish trendline up.
A bullish trend upwards to the next resistance at 0.64952 will persist.
Caution: A possible trend reversal in the direction of support at 0.64073 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Northern Doji’ candle pattern is detected. The candles form ‘Northern Doji’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65435 |
| 2nd High | 0.65373 |
| Next High | 0.64952 |
| Current Price | 0.64456 |
| Next Low | 0.64073 |
| 2nd Low | 0.64068 |
| 3rd Low | 0.63914 |
0.64952 – 0.65373 – 0.65435 – 0.64453 – 0.64658 – 0.65024
Trading Signals: FOREX – AUD – AUD/USD – USD – Northern Doji