AUD/USD – 1H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the descending trendline down.
A continuation of the downward movement downwards to the next support at 0.64474 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.65091 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Engulfing’ chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a negative 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 | 0.65815 |
| 2nd High | 0.65496 |
| Next High | 0.65091 |
| Current Price | 0.64990 |
| Next Low | 0.64474 |
| 2nd Low | 0.64337 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing