AUD/USD – 30M – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) jumps from the ascending trendline downwards
A descending movement downwards to the next support line at 0.64841 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.65235 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish Engulfing’ candle pattern is discovered. The candles show ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65457 |
| 2nd High | 0.65441 |
| Next High | 0.65235 |
| Current Price | 0.65167 |
| Next Low | 0.64841 |
| 2nd Low | 0.64819 |
| 3rd Low | 0.64476 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing