AUD/USD – 30M – BUYCorrection of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Current target is 0.6399 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.64553 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Matching Low’ chart pattern is existing. The chart shows ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65043 |
| 2nd High | 0.64935 |
| Next High | 0.64553 |
| Current Price | 0.63888 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Matching Low