AUD/USD – 1H – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) jumps from the ascending trendline down.
The bearish trend downwards to the next support line at 0.62147 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.62742 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Last Engulfing Bottom:’ candle pattern is detected. The candles show ‘Last Engulfing Bottom:’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63775 |
| 2nd High | 0.63269 |
| Next High | 0.62742 |
| Current Price | 0.62499 |
| Next Low | 0.62147 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Last Engulfing Bottom: