AUD/USD – 30M – BUY

The combination Australian Dollar/US Dollar (AUD/USD) breaks through the descending trendline up.

The bullish trend upwards to the next resistance line at 0.70618 is likely expected.

Caution: A possible trend reversal in the direction of the support line at 0.70341 is within the realm of possibility.
Consider stop-loss settings accordingly.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Current target is 0.70841 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of resistance at 0.70618 is within the realm of possibility.
Consider stop-loss settings accordingly.

In addition a ‘Bullish Belt Hold’ chart pattern is found. The chart forms ‘Bullish Belt Hold’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).

0.70618 – 0.71433 – 0.71486 – 0.70341 – 0.70196 – 0.71052 —
0.70550 – 0.70716 —
50.673608282925 – 49.583022929929 —
– —
0.70618 – 1780891200

Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Belt Hold – – – – – – – – –