AUD/USD – 4H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline downwards
A descent downwards to the next support at 0.61788 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.63021 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Last Engulfing Bottom:’ candlestick chart pattern is detected. The candles form ‘Last Engulfing Bottom:’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64712 |
| 2nd High | 0.64291 |
| Next High | 0.63021 |
| Current Price | 0.62165 |
| Next Low | 0.61788 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Last Engulfing Bottom: