AUD/USD – 30M – BUYThe pair Australian Dollar/US Dollar (AUD/USD) breaks through the descending trendline up.
A bullish movement up to the next resistance level at 0.71778 is likely expected.
Caution: A possible reversal of the trend in the direction of support at 0.71518 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Three White Soldiers’ chart pattern is discovered. The candles form ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.7197 |
| Next High | 0.71778 |
| Current Price | 0.71640 |
| Next Low | 0.71518 |
| 2nd Low | 0.71293 |
| 3rd Low | 0.71098 |
0.71778 – 0.7197 – 0.71772 – 0.71518 – 0.71293 – 0.71098 —
0.71600 – 0.71625 —
38.690284871185 – 47.597785156862 —
– —
0.71778 – 1776358800
Trading Signals: FOREX – AUD – AUD/USD – USD – Three White Soldiers – – – – – – – – –