AUD/USD – 1H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the bullish trendline down.
A bearish movement down to the next support level at 0.62147 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.62742 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Evening Star’ candle pattern is found. The chart forms ‘Evening Star’. 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 ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63775 |
| 2nd High | 0.63269 |
| Next High | 0.62742 |
| Current Price | 0.62482 |
| Next Low | 0.62147 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Evening Star