AUD/USD – 30M – SELLThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the ascending trendline down.
A descent down to the next support at 0.62049 is likely expected.
Caution: A possible change in the direction of resistance at 0.63021 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Tweezers Top’ chart pattern is discovered. The chart shows ‘Tweezers Top’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63548 |
| 2nd High | 0.63269 |
| Next High | 0.63021 |
| Current Price | 0.62361 |
| Next Low | 0.62049 |
| 2nd Low | 0.61976 |
| 3rd Low | 0.61918 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Tweezers Top