AUD/USD – 1H – BUYCorrection of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Target of the current trend is 0.61788 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of support at 0.62878 could occur.
Consider stop-loss settings accordingly.
In addition a ‘Matching Low’ chart pattern is detected. The chart forms ‘Matching Low’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63269 |
| 2nd High | 0.63021 |
| Next High | 0.62878 |
| Current Price | 0.62011 |
| Next Low | 0.61871 |
| 2nd Low | 0.61788 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Matching Low