AUD/USD – 1H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the bullish trendline downwards
The bearish trend down to the next support level at 0.62002 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.62539 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Harami’ candlestick chart pattern is existing. The candles form ‘Bearish Harami’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62742 |
| 2nd High | 0.62646 |
| Next High | 0.62539 |
| Current Price | 0.62399 |
| Next Low | 0.62002 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Harami