AUD/USD – 30M – BUYThe combination Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline downwards
A continuation of the downward movement downwards to the next support at 0.62258 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 0.62411 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.62293032 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 0.62411 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Matching Low’ candle chart pattern is discovered. The candles show ‘Matching Low’. which is a positive signal. The 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 | 0.62522 |
| 2nd High | 0.62483 |
| Next High | 0.62411 |
| Current Price | 0.62333 |
| Next Low | 0.62258 |
| 2nd Low | 0.62241 |
| 3rd Low | 0.62184 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Matching Low