AUD/USD – 30M – SELL

The pair Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline down.

A bearish descent down to the next support level at 0.63049 is likely expected.

Caution: A possible trend reversal in the direction of resistance at 0.63548 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 0.63049 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 0.63548 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ candle pattern is discovered. The candles form ‘Three Outside Down’. which is a bearish signal. The pair is likely to go down. 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).

Download AUD/USD Signal Image

Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down