AUD/USD – 4H – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) jumps from the bullish trendline down.
A bearish descent downwards to the next support at is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.62465 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Below The Stomach’ candle pattern is detected. The candles show ‘Below The Stomach’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Below The Stomach’ going down is 60% (Bull Market) & 65% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64291 |
| 2nd High | 0.62742 |
| Next High | 0.62465 |
| Current Price | 0.61877 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Below The Stomach