AUD/USD – 1H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline downwards
A continuation of the downtrend down to the next support at 0.64696 will persist.
Caution: A possible change in the direction of the resistance line at 0.65047 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.646905 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support line at 0.65047 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Northern Doji’ chart pattern is discovered. The candles form ‘Northern Doji’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65684 |
| 2nd High | 0.65239 |
| Next High | 0.65047 |
| Current Price | 0.64909 |
| Next Low | 0.64696 |
| 2nd Low | 0.64147 |
| 3rd Low | 0.64142 |
0.65047 – 0.65007 – 0.65239 – 0.64696 – 0.64713 – 0.64147 — 59.450370797597 – 52.326848201422 — 48.877602058825 – 29.704998634253 – 54.473851642463 – 43.060085143914
Trading Signals: FOREX – AUD – AUD/USD – USD – Northern Doji – Rising Wedge Chart Pattern – –