AUD/USD – 4H – BUYThe combination Australian Dollar/US Dollar (AUD/USD) goes from the bullish trendline downwards
A bearish movement down to the next support at 0.61987 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.62742 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Matching Low’ chart pattern is found. The chart shows ‘Matching Low’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64712 |
| 2nd High | 0.64291 |
| Next High | 0.62742 |
| Current Price | 0.62245 |
| Next Low | 0.61987 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Matching Low