AUD/USD – 1H – SELL

The combination Australian Dollar/US Dollar (AUD/USD) moves from the bearish trendline down.

A continuation of the downtrend downwards to the next support at is considered certain.

Caution: A possible counter-trend in the direction of the resistance zone at 0.70898 should be noted.
Consider stop-loss settings accordingly.

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart scenario. The currency pair could go down.

Next a ‘StochRSI %K line crosses below %D line’ indicator layout is detected. The indicator shows ‘StochRSI %K line crosses below %D line’. this is usually a bearish chart scenario. The currency pair could go down.

Next a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart forms ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

0.70898 – 0.70962 – 0.71443 – 0.70277 – 0.70459 – 0.70431 —
0.70796 – 0.70771 —
56.049733402123 – 46.132135826957 —
– —
0.70898 – 1771362000

Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing – Double top chart pattern – – – – – – – –