AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) jumps from the ascending trendline downwards
A bearish descent down to the next support level at 0.61987 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.62539 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Current target is 0.62154 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.62539 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three Outside Down’ candle chart pattern is discovered. The chart forms ‘Three Outside Down’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62742 |
| 2nd High | 0.62646 |
| Next High | 0.62539 |
| Current Price | 0.62092 |
| Next Low | 0.61987 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down