AUD/USD – 1H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) goes from the descending trendline downwards
A continuation of the downtrend down to the next support at 0.69558 will continue.
Caution: A possible change in the direction of resistance at 0.7047 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Last Engulfing Top’ candlestick chart pattern is discovered. The candles show ‘Last Engulfing Top’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.71223 |
| 2nd High | 0.70889 |
| Next High | 0.7047 |
| Current Price | 0.70729 |
| Next Low | 0.69558 |
| 2nd Low | 0.69438 |
| 3rd Low | 0.68966 |
0.7047 – 0.70889 – 0.71223 – 0.69558 – 0.69765 – 0.69736 —
0.70344 – 0.70768 —
56.967298942036 – 67.249017207632 —
– —
0.7047 – 1772787600
Trading Signals: FOREX – AUD – AUD/USD – USD – Last Engulfing Top – – – – – – – – –