AUD/USD – 1H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline down.
A continuation of the downtrend down to the next support at 0.64882 will continue.
Caution: A possible change in the direction of the resistance line at 0.65277 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Falling Window’ chart pattern is detected. The chart shows ‘Falling Window’. 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 success rate of a ‘Falling Window’ heading down is 67% (Bull Market) and 73% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65815 |
| 2nd High | 0.65496 |
| Next High | 0.65277 |
| Current Price | 0.65099 |
| Next Low | 0.64882 |
| 2nd Low | 0.64769 |
| 3rd Low | 0.64474 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Falling Window