AUD/USD – 30M – BUYThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline downwards
A continuation of the downward movement downwards to the next support line at 0.62154 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 0.62539 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Shooting Star’ candlestick pattern is discovered. The candles form ‘Shooting Star’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62742 |
| 2nd High | 0.62646 |
| Next High | 0.62539 |
| Current Price | 0.62196 |
| Next Low | 0.62154 |
| 2nd Low | 0.62147 |
| 3rd Low | 0.61987 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Shooting Star