AUD/USD – 30M – SELLThe combination Australian Dollar/US Dollar (AUD/USD) moves from the bearish trendline downwards
A continuation of the downward movement down to the next support at 0.64474 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.65005 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ chart pattern is existing. The chart forms ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65271 |
| 2nd High | 0.65073 |
| Next High | 0.65005 |
| Current Price | 0.64842 |
| Next Low | 0.64474 |
| 2nd Low | 0.64337 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing