AUD/USD – 1H – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) moves from the ascending trendline down.
A bearish descent down to the next support at 0.65614 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.65899 could occur.
Consider stop-loss settings accordingly.
Next a ‘Northern Doji’ chart pattern is found. The chart forms ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.65899 |
| Current Price | 0.65758 |
| Next Low | 0.65614 |
| 2nd Low | 0.65534 |
| 3rd Low | 0.65225 |
0.65899 – 0.65636 – 0.65190 – 0.65614 – 0.65534 – 0.65225
Trading Signals: FOREX – AUD – AUD/USD – USD – Northern Doji –