AUD/USD – 4H – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) moves from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at will persist.
Caution: A possible counter-trend in the direction of the resistance level at 0.63021 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish Engulfing’ candle pattern is found. The candles form ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64712 |
| 2nd High | 0.64291 |
| Next High | 0.63021 |
| Current Price | 0.61458 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing