AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the descending trendline down.
A continuation of the downtrend down to the next support line at 0.64549 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.65043 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Engulfing’ candlestick pattern is found. The candles form ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65259 |
| 2nd High | 0.65107 |
| Next High | 0.65043 |
| Current Price | 0.64823 |
| Next Low | 0.64549 |
| 2nd Low | 0.64426 |
| 3rd Low | 0.64337 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing