AUD/USD – 30M – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.62258 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.62411 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62522 |
| 2nd High | 0.62483 |
| Next High | 0.62411 |
| Current Price | 0.62334 |
| Next Low | 0.62258 |
| 2nd Low | 0.62241 |
| 3rd Low | 0.62184 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing