AUD/USD – 30M – BUYCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.61871 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support line at 0.62358 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Matching Low’ candlestick chart pattern is discovered. The chart forms ‘Matching Low’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63021 |
| 2nd High | 0.62878 |
| Next High | 0.62358 |
| Current Price | 0.62116 |
| Next Low | 0.61871 |
| 2nd Low | 0.61788 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Matching Low