AUD/USD – 30M – BUYThe combination Australian Dollar/US Dollar (AUD/USD) goes from the descending trendline downwards
A continuation of the downward movement downwards to the next support level at 0.62241 is expected.
Caution: A possible change in the direction of the resistance level at 0.62411 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Matching Low’ candle chart pattern is found. The candles form ‘Matching Low’. this is a bullish pattern signal. The currency pair is likely to rise. 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 | 0.62522 |
| 2nd High | 0.62483 |
| Next High | 0.62411 |
| Current Price | 0.62353 |
| Next Low | 0.62241 |
| 2nd Low | 0.62184 |
| 3rd Low | 0.62147 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Matching Low