AUD/USD – 4H – BUY

The currency pair Australian Dollar/US Dollar (AUD/USD) breaks through the descending trendline upwards

An ascending movement up to the next resistance level at 0.72274 is expected.

Caution: A possible counter-trend in the direction of support at 0.71012 is within the realm of possibility.
Consider stop-loss settings accordingly.

Also there is a ‘MACD crosses above signal’ indicator layout is discovered. The indicator is ‘MACD crosses above signal’. which is often a bullish signal. The currency pair could go up.

Also there is a ‘Bullish Engulfing’ chart pattern is detected. The chart shows ‘Bullish Engulfing’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.

0.72274 – 0.71995 – 0.71856 – 0.71012 – 0.71107 – 0.71298 —
0.71994 – 0.71974 —
53.006121093896 – 54.553851969977 —
– —
0.72274 – 1777651200

Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Engulfing – – – – – – – – –