AUD/USD – 30M – SELLThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.64474 is likely expected.
Caution: A possible change in the direction of the resistance line at 0.64847 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles form ‘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 chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65271 |
| 2nd High | 0.65073 |
| Next High | 0.64847 |
| Current Price | 0.64862 |
| Next Low | 0.64474 |
| 2nd Low | 0.64337 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing