Bearish Engulfing on AUD/USD

Bearish Engulfing on AUD/USD

This week, the AUD/USD currency pair kept a local resistance of 0.79900, which caused a downward trend. The technical pattern indicates the continuation of the "bearish" sentiment. Near the "mirror" level of resistance 0.79200, a classic pattern of the Price Action "Bearish Engulfing" (H1 timeframe) was formed. We recommend you to pay attention to this situation.

If the AUD/USD quotes overcome the local support of 0.78700, you need to look for entry points to the market to open short positions. The target movement level is 0.78250. In the medium term, the currency may reach the level of 0.77500. When tracking a position, one should use a trailing stop.

by JustForex, 2017.08.31

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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