AUD/USD – 4H – BUYThe pair Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 0.63724 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.65277 could occur.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Matching Low’ candle pattern is discovered. The chart forms ‘Matching Low’. this 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 success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.66875 |
| 2nd High | 0.65496 |
| Next High | 0.65277 |
| Current Price | 0.63919 |
| Next Low | 0.63724 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Matching Low