AUD/USD – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 0.707145 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 0.71871 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Belt Hold’ chart pattern is found. The candles form ‘Bearish Belt Hold’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.71871 |
| Current Price | 0.71233 |
| Next Low | 0.69558 |
| 2nd Low | 0.69438 |
| 3rd Low | 0.68966 |
0.71871 – 0.7185 – 0.7047 – 0.69558 – 0.69765 – 0.69736 —
0.71559 – 0.71556 —
54.08697300589 – 46.362708891982 —
– —
0.71871 – 1773248400
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Belt Hold – – – – – – – – –