AUD/USD – 30M – BUYThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline down.
A continuation of the downtrend downwards to the next support line at 0.62044 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.62539 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Matching Low’ candle chart pattern is discovered. The candles form ‘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 probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62742 |
| 2nd High | 0.62646 |
| Next High | 0.62539 |
| Current Price | 0.62086 |
| Next Low | 0.62044 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Matching Low