AUD/USD – 30M – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support at 0.63743 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.64061 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Tweezers Top’ candlestick pattern is discovered. The chart shows ‘Tweezers Top’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
Besides a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64350 |
| 2nd High | 0.64205 |
| Next High | 0.64061 |
| Current Price | 0.63935 |
| Next Low | 0.63743 |
| 2nd Low | 0.63434 |
| 3rd Low | 0.63330 |
0.64061 – 0.64205 – 0.64350 – 0.63743 – 0.63434 – 0.63518
Trading Signals: FOREX – AUD – AUD/USD – USD – Tweezers Top