AUD/USD – 4H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support at 0.61788 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.63021 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish Harami’ candlestick pattern is detected. The chart forms ‘Bearish Harami’. which is a bearish signal. The currency pair is likely to fall. 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 | 0.64712 |
| 2nd High | 0.64291 |
| Next High | 0.63021 |
| Current Price | 0.61940 |
| Next Low | 0.61788 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Harami