AUD/USD – 30M – SELLThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the descending trendline down.
A continuation of the downtrend down to the next support at 0.61788 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 0.62225 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Tweezers Top’ candlestick pattern is detected. The candles form ‘Tweezers Top’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62329 |
| 2nd High | 0.62313 |
| Next High | 0.62225 |
| Current Price | 0.62086 |
| Next Low | 0.61788 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Tweezers Top