AUD/USD – 1H – SELL

The currency pair Australian Dollar/US Dollar (AUD/USD) jumps from the descending trendline down.

A continuation of the bearish trend downwards to the next support at 0.70207 is likely expected.

Caution: A possible reversal of the trend in the direction of resistance at 0.7088 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘StochRSI %K line crosses below %D line’ indicator signal is found. The indicator shows ‘StochRSI %K line crosses below %D line’. which is often a bearish chart signal. The currency pair could go down.

Then a ‘Bearish Engulfing’ chart pattern is existing. The candles form ‘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 probability of ‘Bearish Engulfing’ heading down is 79%.

0.7088 – 0.70548 – 0.70116 – 0.70207 – 0.69786 – 0.6987 —
0.70759 – 0.70878 —
58.344601554843 – 61.612581764806 —
– —
0.7088 – 1781485200

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