AUD/USD – 1H – BUYThe currency pair Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at 0.62147 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.62650 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Outside Down’ candlestick pattern is discovered. The chart forms ‘Three Outside Down’. which is a bearish pattern signal. The pair is likely to go down. 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 | 0.63775 |
| 2nd High | 0.63269 |
| Next High | 0.62650 |
| Current Price | 0.62523 |
| Next Low | 0.62147 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down