AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the bearish trendline downwards
A continuation of the downtrend down to the next support level at 0.62154 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.62539 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Engulfing’ candle pattern is found. 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 success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62742 |
| 2nd High | 0.62646 |
| Next High | 0.62539 |
| Current Price | 0.62150 |
| Next Low | 0.62154 |
| 2nd Low | 0.62147 |
| 3rd Low | 0.61987 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing