AUD/USD – 30M – SELL

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.707115 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support line at 0.71162 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Bearish Engulfing’ chart pattern is discovered. The candles form ‘Bearish Engulfing’. this is a bearish signal. 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’ heading down is 79%.

0.71162 – 0.70699 – 0.70733 – 0.70559 – 0.70261 – 0.7048 —
0.71020 – 0.70919 —
55.129802021581 – 54.003744196023 —
– —
0.71162 – 1772010000

Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing – – – – – – – – –