AUD/USD – 1H – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) goes from the bearish trendline downwards
A continuation of the downward movement downwards to the next support line at 0.70345 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 0.70898 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Tweezers Top’ candlestick chart pattern is discovered. The chart shows ‘Tweezers Top’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.71443 |
| 2nd High | 0.70962 |
| Next High | 0.70898 |
| Current Price | 0.70349 |
| Next Low | 0.70345 |
| 2nd Low | 0.70277 |
| 3rd Low | 0.70132 |
0.70898 – 0.70962 – 0.71443 – 0.70345 – 0.70277 – 0.70459 —
0.70540 – 0.70552 —
46.391214274687 – 42.780028700677 —
– —
0.70898 – 1771362000
Trading Signals: FOREX – AUD – AUD/USD – USD – Tweezers Top – – – – – – – – –