AUD/USD – 30M – BUYThe pair Australian Dollar/US Dollar (AUD/USD) moves from the ascending trendline downwards
A bearish trend downwards to the next support at 0.62342 is considered certain.
Caution: A possible change in the direction of the resistance line at 0.62878 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Concealing Baby Swallow’ candle chart pattern is discovered. The chart forms ‘Concealing Baby Swallow’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Concealing Baby Swallow’ going down is 75% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63269 |
| 2nd High | 0.63021 |
| Next High | 0.62878 |
| Current Price | 0.62428 |
| Next Low | 0.62342 |
| 2nd Low | 0.62049 |
| 3rd Low | 0.61976 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Concealing Baby Swallow