The combination Australian Dollar/US Dollar (AUD/USD) jumps from the ascending trendline downwards
The bearish trend down to the next support line at 0.62002 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.62465 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Target of the current trend is 0.622705 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.62465 is within the realm of possibility.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish Harami’ candle pattern is found. The candles show ‘Bearish Harami’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 0.62646 |
2nd High | 0.62539 |
Next High | 0.62465 |
Current Price | 0.62406 |
Next Low | 0.62002 |
2nd Low | 0.61987 |
3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Harami