AUD/USD – 30M – SELLThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the ascending trendline down.
A descent down to the next support line at 0.64819 is likely expected.
Caution: A possible change in the direction of the resistance level at 0.65237 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bearish Engulfing’ chart pattern is found. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65569 |
| 2nd High | 0.65457 |
| Next High | 0.65237 |
| Current Price | 0.65201 |
| Next Low | 0.64819 |
| 2nd Low | 0.64476 |
| 3rd Low | 0.64426 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing