AUDUSD Piercing Line Hourly Chart 


Resistance: 1.0361 minor

Support: 1.0338 minor/1.0321 moderate/1.0298 strong

AUDUSD has a bullish trend though prices are looking overextended. With a high level bullish candlestick pattern, Piercing Line continue to hold current longs while aggressive buys may also be taken by neutral traders with stops just under the pattern low or 1.0338. Look for the  rally in the market to continue further.


GBPUSD Three Outside Down Hourly Chart


Resistance: 1.5470 strong/1.5503 moderate/1.5541 minor

Support: 1.5432 moderate/1.5399 minor/1.5361 minor

Three Outside Down is just under the pivot point at 1.5470 in Hourly GBPUSD charts. With a combination of a high level bearish pattern and a strong resistance consider shorting at market the immediate objective at 1.5432 break of which should see us move to 1.5399. Stop loss should be placed above 1.5470.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To aLook At Prices