AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline down.
A descent downwards to the next support level at 0.62342 will persist.
Caution: A possible trend reversal in the direction of resistance at 0.63021 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Last Engulfing Bottom:’ candlestick chart pattern is detected. The candles form ‘Last Engulfing Bottom:’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63548 |
| 2nd High | 0.63269 |
| Next High | 0.63021 |
| Current Price | 0.62748 |
| Next Low | 0.62342 |
| 2nd Low | 0.62049 |
| 3rd Low | 0.61976 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Last Engulfing Bottom: