AUD/USD – 4H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the ascending trendline downwards
A bearish movement downwards to the next support level at 0.65078 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 0.65636 is within the realm of possibility.
Consider stop-loss settings accordingly.
Then a ‘Matching Low’ candlestick pattern is existing. The candles form ‘Matching Low’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.65636 |
| Current Price | 0.65719 |
| Next Low | 0.65078 |
| 2nd Low | 0.63722 |
| 3rd Low | 0.63562 |
0.65636 – 0.65517 – 0.65455 – 0.65078 – 0.63722 – 0.64560
Trading Signals: FOREX – AUD – AUD/USD – USD – Matching Low – Inverse Head and Shoulder chart pattern