AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 0.62044 is certain.
Caution: A possible counter-trend in the direction of resistance at 0.62257 could happen.
Consider stop-loss settings accordingly.
Also there is a ‘Evening Star’ candlestick chart pattern is existing. The chart forms ‘Evening Star’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62646 |
| 2nd High | 0.62539 |
| Next High | 0.62257 |
| Current Price | 0.62061 |
| Next Low | 0.62044 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Evening Star