AUD/USD – 1H – BUYThe combination Australian Dollar/US Dollar (AUD/USD) goes from the bullish trendline down.
A bearish trend down to the next support level at 0.61976 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.62251 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Outside Down’ candlestick pattern is discovered. The chart forms ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62539 |
| 2nd High | 0.62465 |
| Next High | 0.62251 |
| Current Price | 0.62222 |
| Next Low | 0.61976 |
| 2nd Low | 0.61918 |
| 3rd Low | 0.61788 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down