AUD/USD – 30M – BUYThe pair Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline downwards
The bearish trend downwards to the next support at 0.63793 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 0.64712 should always be considered.
Consider stop-loss settings accordingly.
Moreover a ‘Bullish Engulfing’ candle pattern is detected. The candles form ‘Bullish Engulfing’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65043 |
| 2nd High | 0.64935 |
| Next High | 0.64712 |
| Current Price | 0.63937 |
| Next Low | 0.63793 |
| 2nd Low | 0.63724 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bullish Engulfing