AUD/USD – 4H – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) goes from the descending trendline down.
A continuation of the downtrend down to the next support at will continue.
Caution: A possible trend reversal in the direction of the resistance level at 0.64291 could happen.
Consider stop-loss settings accordingly.
Besides a ‘Three Outside Down’ candle chart pattern is found. The chart forms ‘Three Outside Down’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65277 |
| 2nd High | 0.64712 |
| Next High | 0.64291 |
| Current Price | 0.62251 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down