AUD/USD – 1H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the bearish trendline downwards
A continuation of the downward movement downwards to the next support level at 0.62002 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 0.62539 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Engulfing’ chart pattern is detected. The candles show ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62742 |
| 2nd High | 0.62646 |
| Next High | 0.62539 |
| Current Price | 0.62395 |
| Next Low | 0.62002 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing