AUD/USD – 1H – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) moves from the ascending trendline downwards
A descending movement down to the next support at 0.64337 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 0.65043 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Evening Star’ candle pattern is detected. The candles form ‘Evening Star’. 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 likelyhood of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65277 |
| 2nd High | 0.65259 |
| Next High | 0.65043 |
| Current Price | 0.64381 |
| Next Low | 0.64337 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Evening Star