AUD/USD – 4H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline downwards
A continuation of the downward movement downwards to the next support level at 0.63363 is certain.
Caution: A possible change in the direction of the resistance zone at 0.64291 could happen.
Consider stop-loss settings accordingly.
There is also a ‘Three Outside Down’ candlestick chart pattern is discovered. The chart shows ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going 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 | 0.63340 |
| Next Low | 0.63363 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down