AUD/USD – 1H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline downwards
A bearish trend down to the next support at 0.61976 is certain.
Caution: A possible change in the direction of the resistance zone at 0.63021 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. 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 | 0.63775 |
| 2nd High | 0.63269 |
| Next High | 0.63021 |
| Current Price | 0.62378 |
| Next Low | 0.61976 |
| 2nd Low | 0.61918 |
| 3rd Low | 0.61788 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing