AUD/USD – 4H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline downwards
A bearish movement downwards to the next support line at 0.61788 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 0.63021 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ chart pattern is detected. The candles show ‘Bearish Engulfing’. 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 chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64712 |
| 2nd High | 0.64291 |
| Next High | 0.63021 |
| Current Price | 0.61929 |
| Next Low | 0.61788 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing