AUD/USD – 1H – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance line at 0.65899 will persist.
Caution: A possible trend reversal in the direction of the support zone at 0.65534 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Northern Doji’ candle chart pattern is found. The chart forms ‘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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.65899 |
| Current Price | 0.65820 |
| Next Low | 0.65534 |
| 2nd Low | 0.65225 |
| 3rd Low | 0.65078 |
0.65899 – 0.65636 – 0.65190 – 0.65534 – 0.65225 – 0.65078
Trading Signals: FOREX – AUD – AUD/USD – USD – Northern Doji –