AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) jumps from the bullish trendline down.
A descending movement down to the next support at is expected.
Caution: A possible change in the direction of the resistance zone at 0.63548 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.63364 at the Fibonacci level 0-Level. Caution: A possible change in the direction of support at 0.63548 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish Engulfing’ chart pattern is discovered. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The currency 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 | 0.63824 |
| 2nd High | 0.63775 |
| Next High | 0.63548 |
| Current Price | 0.63340 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing