AUD/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.63363 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.64291 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles show ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. 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 | 0.64935 |
| 2nd High | 0.64712 |
| Next High | 0.64291 |
| Current Price | 0.63613 |
| Next Low | 0.63363 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing