AUD/USD – 30M – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline downwards
A continuation of the downtrend down to the next support level at 0.64900 is expected.
Caution: A possible change in the direction of the resistance line at 0.65051 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Engulfing’ candlestick pattern is detected. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. 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 | 0.65271 |
| 2nd High | 0.65091 |
| Next High | 0.65051 |
| Current Price | 0.64996 |
| Next Low | 0.64900 |
| 2nd Low | 0.64769 |
| 3rd Low | 0.64474 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing