AUD/USD – 4H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) moves from the ascending trendline down.
A bearish movement downwards to the next support line at 0.61987 is certain.
Caution: A possible trend reversal in the direction of resistance at 0.62742 could be enabled.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Belt Hold’ candle chart pattern is detected. The chart forms ‘Bearish Belt Hold’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64712 |
| 2nd High | 0.64291 |
| Next High | 0.62742 |
| Current Price | 0.61998 |
| Next Low | 0.61987 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Belt Hold