AUD/USD – 30M – SELLThe combination Australian Dollar/US Dollar (AUD/USD) goes from the bullish trendline downwards
A descent downwards to the next support level at 0.71122 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.7168 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Last Engulfing Bottom:’ candlestick chart pattern is detected. The candles form ‘Last Engulfing Bottom:’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.7168 |
| Current Price | 0.71683 |
| Next Low | 0.71122 |
| 2nd Low | 0.7053 |
| 3rd Low | 0.69813 |
0.7168 – 0.70817 – 0.70305 – 0.71122 – 0.7053 – 0.69813 —
0.71743 – 0.71766 —
68.929062078002 – 66.707033062017 —
– —
0.7168 – 1773172800
Trading Signals: FOREX – AUD – AUD/USD – USD – Last Engulfing Bottom: – – – – – – – – –