AUD/USD – 30M – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support level at 0.61987 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.62650 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Outside Down’ candlestick chart 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’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63548 |
| 2nd High | 0.63269 |
| Next High | 0.62650 |
| Current Price | 0.62424 |
| Next Low | 0.61987 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down