AUD/USD – 1H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the ascending trendline down.
The bearish trend downwards to the next support level at 0.64967 is expected.
Caution: A possible counter-trend in the direction of resistance at 0.65327 could be enabled.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.65251596 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support line at 0.65327 could be enabled.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ candle pattern is found. The candles show ‘Northern Doji’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65377 |
| 2nd High | 0.65336 |
| Next High | 0.65327 |
| Current Price | 0.65181 |
| Next Low | 0.64967 |
| 2nd Low | 0.64895 |
| 3rd Low | 0.64791 |
0.65327 – 0.65336 – 0.65064 – 0.64967 – 0.64895 – 0.65056
Trading Signals: FOREX – AUD – AUD/USD – USD – Northern Doji