Bearish Engulfing on AUD/USD

Bearish Engulfing on AUD/USD

On the AUD/USD currency pair, the bearish sentiment is prevailing for quite a long time. The trading instrument has the potential to further reduce. At the moment, a classic pattern of the Price Action, Bearish Engulfing, (H4 timeframe) was formed. The local support is 0.78200. We recommend paying attention to this formation.

If the price fixes below the support level of 0.78200, you need to look for entry points to the market to open short positions. The closest target for fixing profits is the 0.77850 mark. In the medium term, the AUD/USD quotations may reach the support level of 0.77500. When tracking the position, we recommend using a trailing stop.

by JustForex, 2017.10.18

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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