AUD/USD – 30M – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support level at 0.64769 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 0.65051 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. 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 | 0.65271 |
| 2nd High | 0.65091 |
| Next High | 0.65051 |
| Current Price | 0.65007 |
| Next Low | 0.64769 |
| 2nd Low | 0.64474 |
| 3rd Low | 0.64337 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing