AUD/USD – 30M – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) moves from the ascending trendline down.
A bearish descent down to the next support level at 0.62049 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.62313 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Engulfing’ candle pattern is found. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. 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 | 0.62465 |
| 2nd High | 0.62329 |
| Next High | 0.62313 |
| Current Price | 0.62255 |
| Next Low | 0.62049 |
| 2nd Low | 0.61976 |
| 3rd Low | 0.61918 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing