AUD/USD – 1H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline downwards
A continuation of the bearish trend downwards to the next support line at 0.64476 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.65237 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65815 |
| 2nd High | 0.65457 |
| Next High | 0.65237 |
| Current Price | 0.65201 |
| Next Low | 0.64476 |
| 2nd Low | 0.64426 |
| 3rd Low | 0.64404 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing