AUD/USD – 4H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline down.
A bearish movement downwards to the next support level at 0.61788 will persist.
Caution: A possible change in the direction of the resistance level at 0.64291 should be noted.
Consider stop-loss settings accordingly.
Then a ‘Tweezers Top’ candle chart pattern is discovered. The chart forms ‘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 chance of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65277 |
| 2nd High | 0.64712 |
| Next High | 0.64291 |
| Current Price | 0.62748 |
| Next Low | 0.61788 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Tweezers Top