AUD/USD – 30M – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) moves from the bearish trendline down.
A continuation of the downward movement down to the next support at 0.61878 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.62056 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bearish Belt Hold’ candlestick pattern is existing. The candles form ‘Bearish Belt Hold’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62358 |
| 2nd High | 0.62191 |
| Next High | 0.62056 |
| Current Price | 0.61914 |
| Next Low | 0.61878 |
| 2nd Low | 0.61716 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Belt Hold