AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline downwards
A continuation of the downtrend down to the next support at 0.62241 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.62483 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Engulfing’ candle pattern is existing. The candles form ‘Bearish Engulfing’. this is a bearish signal. The 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 | 0.62646 |
| 2nd High | 0.62522 |
| Next High | 0.62483 |
| Current Price | 0.62271 |
| Next Low | 0.62241 |
| 2nd Low | 0.62184 |
| 3rd Low | 0.62147 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing