AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the bullish trendline downwards
A descent down to the next support line at 0.69068 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 0.69404 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘MACD crosses below signal’ indicator layout is found. The indicator shows ‘MACD crosses below signal’. which could be a negative chart signal. The currency pair could go down.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Current target is 0.688715 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 0.69404 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Engulfing’ candle chart pattern is found. The chart shows ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.69404 |
| Current Price | 0.69104 |
| Next Low | 0.69068 |
| 2nd Low | 0.68339 |
| 3rd Low | 0.67953 |
0.69404 – 0.69312 – 0.68527 – 0.69068 – 0.69081 – 0.68339 —
0.69156 – 0.69226 —
43.879718732598 – 46.529267156487 —
– —
0.69404 – 1769454000
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing – Rising Wedge Chart Pattern – – – – – – – –