AUD/USD – 30M – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline downwards
A continuation of the downward movement down to the next support at 0.61871 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 0.62191 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Tweezers Top’ candle pattern is found. The candles show ‘Tweezers Top’. this is a bearish signal. The currency 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 | 0.62878 |
| 2nd High | 0.62358 |
| Next High | 0.62191 |
| Current Price | 0.61906 |
| Next Low | 0.61871 |
| 2nd Low | 0.61788 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Tweezers Top