AUD/USD – 30M – BUYThe combination Australian Dollar/US Dollar (AUD/USD) goes from the bullish trendline down.
A descending movement downwards to the next support at 0.62342 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.63021 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bullish Belt Hold’ candle chart pattern is discovered. The candles show ‘Bullish Belt Hold’. 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 ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63548 |
| 2nd High | 0.63269 |
| Next High | 0.63021 |
| Current Price | 0.62821 |
| Next Low | 0.62342 |
| 2nd Low | 0.62049 |
| 3rd Low | 0.61976 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Belt Hold