AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline down.
A continuation of the bearish trend down to the next support at 0.62154 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.62539 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ candle chart pattern is existing. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62742 |
| 2nd High | 0.62646 |
| Next High | 0.62539 |
| Current Price | 0.62202 |
| Next Low | 0.62154 |
| 2nd Low | 0.62147 |
| 3rd Low | 0.61987 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing