AUD/USD – 30M – SELLThe combination Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline downwards
A bearish movement down to the next support level at 0.64882 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 0.65091 could be enabled.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.64945388 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 0.65091 could be enabled.
Consider stop-loss settings accordingly.
Moreover a ‘Bullish Abandoned Baby’ candle pattern is existing. The candles form ‘Bullish Abandoned Baby’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Abandoned Baby’ going up is 70% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65496 |
| 2nd High | 0.65271 |
| Next High | 0.65091 |
| Current Price | 0.65080 |
| Next Low | 0.64882 |
| 2nd Low | 0.64769 |
| 3rd Low | 0.64474 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Abandoned Baby