AUD/USD – 30M – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) goes from the bearish trendline downwards
A continuation of the downward movement down to the next support at 0.62258 will persist.
Caution: A possible change in the direction of the resistance zone at 0.62411 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Current target is 0.62293032 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of support at 0.62411 could happen.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Matching Low’ candle chart pattern is existing. The chart forms ‘Matching Low’. 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 ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62522 |
| 2nd High | 0.62483 |
| Next High | 0.62411 |
| Current Price | 0.62369 |
| Next Low | 0.62258 |
| 2nd Low | 0.62241 |
| 3rd Low | 0.62184 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Matching Low