AUD/USD – 1H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) jumps from the descending trendline downwards
A continuation of the downtrend down to the next support at 0.63724 will continue.
Caution: A possible change in the direction of the resistance level at 0.64446 is also possible.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 0.63724 at the Fibonacci level 0-Level. Caution: A possible change in the direction of support at 0.64446 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Engulfing’ chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65043 |
| 2nd High | 0.64553 |
| Next High | 0.64446 |
| Current Price | 0.63835 |
| Next Low | 0.63724 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing