AUDUSD 30M CHART PATTERN

30 Apr

This chart represents a technical analysis setup for the AUD/USD currency pair on a 30-minute timeframe. Here's a breakdown of what the chart is indicating:

1. Bullish Pattern (Double Bottom):

The chart suggests a potential double bottom pattern forming around the 0.6374 level.

This is a bullish reversal pattern indicating a potential upward move.



2. Projected Move:

If the price confirms the double bottom and reverses upward, the expected target is the previous high around 0.6448, marked as TAKE PROFIT.

There's also a nearer-term take profit zone around 0.6425.



3. Entry and Stop-Loss:

The implied entry point would be close to the current level or the potential bottom around 0.6374.

A stop-loss is not explicitly marked but would likely be placed just below the lower green support zone, under 0.6370.



4. Risk-to-Reward Ratio:

The green area suggests

30 Apr

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