AUD/USD – 1H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the bullish trendline down.
A descending movement downwards to the next support line at 0.62241 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.62539 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles show ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62742 |
| 2nd High | 0.62646 |
| Next High | 0.62539 |
| Current Price | 0.62245 |
| Next Low | 0.62241 |
| 2nd Low | 0.62184 |
| 3rd Low | 0.62147 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing