AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the descending trendline downwards
A continuation of the bearish trend downwards to the next support level at 0.64474 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.65091 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish Engulfing’ candlestick pattern is found. The candles show ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65496 |
| 2nd High | 0.65271 |
| Next High | 0.65091 |
| Current Price | 0.64975 |
| Next Low | 0.64474 |
| 2nd Low | 0.64337 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing