AUD/USD – 1H – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) jumps from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 0.64709 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 0.65322 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65457 |
| 2nd High | 0.65441 |
| Next High | 0.65322 |
| Current Price | 0.65200 |
| Next Low | 0.64709 |
| 2nd Low | 0.64476 |
| 3rd Low | 0.64426 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing