AUD/USD – 30M – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 0.62258 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 0.62539 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Matching Low’ candlestick chart pattern is existing. The chart forms ‘Matching Low’. which is a positive chart scenario. 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’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62742 |
| 2nd High | 0.62646 |
| Next High | 0.62539 |
| Current Price | 0.62209 |
| Next Low | 0.62258 |
| 2nd Low | 0.62241 |
| 3rd Low | 0.62184 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Matching Low