AUD/USD – 30M – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) jumps from the ascending trendline down.
A descending movement downwards to the next support at is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.63548 could occur.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Outside Down’ candle chart pattern is found. The candles form ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63824 |
| 2nd High | 0.63775 |
| Next High | 0.63548 |
| Current Price | 0.63171 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down