AUD/USD – 1H – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) goes from the bearish trendline down.
A continuation of the downtrend downwards to the next support level at 0.63990 will continue.
Caution: A possible counter-trend in the direction of resistance at 0.64553 should always be considered.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Engulfing’ candlestick pattern is existing. The chart shows ‘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 probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65259 |
| 2nd High | 0.65043 |
| Next High | 0.64553 |
| Current Price | 0.64129 |
| Next Low | 0.63990 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing