AUD/USD – 1H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) moves from the bearish trendline downwards
A continuation of the downward movement down to the next support line at 0.64337 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 0.65043 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The chart forms ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65277 |
| 2nd High | 0.65259 |
| Next High | 0.65043 |
| Current Price | 0.64293 |
| Next Low | 0.64337 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing