AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 0.62241 will persist.
Caution: A possible change in the direction of the resistance line at 0.62522 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bearish Engulfing’ candlestick pattern is found. The chart forms ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62742 |
| 2nd High | 0.62646 |
| Next High | 0.62522 |
| Current Price | 0.62401 |
| Next Low | 0.62241 |
| 2nd Low | 0.62184 |
| 3rd Low | 0.62147 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing