AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the descending trendline down.
A continuation of the bearish trend down to the next support line at 0.63515 will persist.
Caution: A possible change in the direction of the resistance level at 0.63833 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candlestick pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a negative pattern signal. 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 | 0.64712 |
| 2nd High | 0.64291 |
| Next High | 0.63833 |
| Current Price | 0.63642 |
| Next Low | 0.63515 |
| 2nd Low | 0.63363 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing