AUD/USD – 1H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) jumps from the bullish trendline downwards
The bearish trend down to the next support line at is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.64712 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65259 |
| 2nd High | 0.65043 |
| Next High | 0.64712 |
| Current Price | 0.63500 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing