AUD/USD – 30M – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) goes from the descending trendline down.
A continuation of the bearish trend down to the next support at 0.61987 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.63269 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bullish Engulfing’ candle pattern is found. The chart shows ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63775 |
| 2nd High | 0.63548 |
| Next High | 0.63269 |
| Current Price | 0.62545 |
| Next Low | 0.61987 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Engulfing