AUD/USD – 1H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the bearish trendline down.
A continuation of the downtrend down to the next support level at 0.63447 will continue.
Caution: A possible change in the direction of the resistance level at 0.63775 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Outside Down’ candle chart pattern is found. 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 chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63833 |
| 2nd High | 0.63824 |
| Next High | 0.63775 |
| Current Price | 0.63418 |
| Next Low | 0.63447 |
| 2nd Low | 0.63363 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down