AUD/USD – 1H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline down.
A continuation of the downward movement down to the next support at 0.63793 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.64712 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Line Strike – Bearish’ candlestick chart pattern is discovered. The candles show ‘Three Line Strike – Bearish’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65259 |
| 2nd High | 0.65043 |
| Next High | 0.64712 |
| Current Price | 0.63936 |
| Next Low | 0.63793 |
| 2nd Low | 0.63724 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Line Strike – Bearish