AUD/USD – 4H – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) goes from the bullish trendline down.
A bearish trend down to the next support line at is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.62742 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Outside Down’ candlestick pattern is discovered. The chart shows ‘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 likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64712 |
| 2nd High | 0.64291 |
| Next High | 0.62742 |
| Current Price | 0.61827 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down