AUD/USD – 1H – BUYCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Target of the current trend is 0.61716 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support zone at 0.62878 is within the realm of possibility.
Consider stop-loss settings accordingly.
Additionally a ‘Bearish Harami’ chart pattern is discovered. The candles show ‘Bearish Harami’. which is a negative chart scenario. 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’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63269 |
| 2nd High | 0.63021 |
| Next High | 0.62878 |
| Current Price | 0.61978 |
| Next Low | 0.61716 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Harami