AUD/USD – 1H – BUYThe pair Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline downwards
A bearish descent downwards to the next support level at 0.62258 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.62646 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Three Outside Down’ candlestick pattern is detected. The candles form ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to fall. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63269 |
| 2nd High | 0.62742 |
| Next High | 0.62646 |
| Current Price | 0.62257 |
| Next Low | 0.62258 |
| 2nd Low | 0.62241 |
| 3rd Low | 0.62184 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down