AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the descending trendline downwards
A continuation of the downward movement down to the next support at 0.62258 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.62411 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Engulfing’ candle pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a bearish chart scenario. 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 | 0.62522 |
| 2nd High | 0.62483 |
| Next High | 0.62411 |
| Current Price | 0.62334 |
| Next Low | 0.62258 |
| 2nd Low | 0.62241 |
| 3rd Low | 0.62184 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing