AUD/USD – 1H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline downwards
A continuation of the downward movement down to the next support at 0.62014 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.62465 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Harami’ candlestick chart pattern is detected. The chart forms ‘Bearish Harami’. which is a negative 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 ‘Bearish Harami’ going 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 | 0.62205 |
| Next Low | 0.62014 |
| 2nd Low | 0.62002 |
| 3rd Low | 0.61987 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Harami