AUD/USD – 30M – SELLThe combination Australian Dollar/US Dollar (AUD/USD) goes from the bullish trendline down.
A bearish trend down to the next support line at 0.62049 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.62395 could occur.
Consider stop-loss settings accordingly.
Then a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative chart scenario. 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 | 0.62539 |
| 2nd High | 0.62465 |
| Next High | 0.62395 |
| Current Price | 0.62254 |
| Next Low | 0.62049 |
| 2nd Low | 0.61976 |
| 3rd Low | 0.61918 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Bearish Engulfing