AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 0.62147 will continue.
Caution: A possible change in the direction of the resistance line at 0.62650 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Engulfing’ candle pattern is detected. The candles show ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63548 |
| 2nd High | 0.63269 |
| Next High | 0.62650 |
| Current Price | 0.62253 |
| Next Low | 0.62147 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing