AUD/USD – 4H – SELL

Moreover a ‘Rising Wedge Chart Pattern’ chart pattern is detected. The chart shows ‘Rising Wedge Chart Pattern’. which is a bearish signal. The pair is likely to go down.

The combination Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline downwards

A descent down to the next support line at 0.71012 is expected.

Caution: A possible trend reversal in the direction of the resistance line at 0.71995 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.

Moreover a ‘Last Engulfing Bottom:’ candlestick pattern is detected. The chart forms ‘Last Engulfing Bottom:’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).

0.71995 – 0.71856 – 0.72215 – 0.71012 – 0.71107 – 0.71298 —
0.71324 – 0.72048 —
35.468321867084 – 59.413338181931 —
– —
0.71995 – 1777305600

Trading Signals: FOREX – AUD – AUD/USD – USD – Last Engulfing Bottom: – Rising Wedge Chart Pattern – – – – – – – –