AUD/USD – 1H – BUYThe pair Australian Dollar/US Dollar (AUD/USD) goes from the descending trendline down.
A continuation of the downward movement downwards to the next support line at 0.62241 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.62646 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Matching Low’ candle pattern is found. The chart forms ‘Matching Low’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63269 |
| 2nd High | 0.62742 |
| Next High | 0.62646 |
| Current Price | 0.62334 |
| Next Low | 0.62241 |
| 2nd Low | 0.62184 |
| 3rd Low | 0.62147 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Matching Low