AUD/USD – 30M – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline down.
The bearish trend downwards to the next support at 0.62073 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 0.62313 could be enabled.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Engulfing’ candle chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a negative 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 | 0.62465 |
| 2nd High | 0.62329 |
| Next High | 0.62313 |
| Current Price | 0.61978 |
| Next Low | 0.62073 |
| 2nd Low | 0.62014 |
| 3rd Low | 0.62002 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing