AUD/USD – 30M – BUYThe pair Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.61390 will persist.
Caution: A possible reversal of the trend in the direction of resistance at 0.62056 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Bullish Belt Hold’ candle chart pattern is detected. The chart shows ‘Bullish Belt Hold’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62358 |
| 2nd High | 0.62191 |
| Next High | 0.62056 |
| Current Price | 0.61458 |
| Next Low | 0.61390 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Belt Hold