AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the descending trendline downwards
A continuation of the downward movement downwards to the next support line at is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.63548 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Engulfing’ chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63824 |
| 2nd High | 0.63775 |
| Next High | 0.63548 |
| Current Price | 0.63249 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing