AUD/USD – 30M – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) goes from the bullish trendline downwards
A descent downwards to the next support at 0.63539 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 0.64291 should be noted.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish Engulfing’ candle chart pattern is existing. The candles show ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64935 |
| 2nd High | 0.64712 |
| Next High | 0.64291 |
| Current Price | 0.63554 |
| Next Low | 0.63539 |
| 2nd Low | 0.63363 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing