AUD/USD – 30M – SELL

The currency pair Australian Dollar/US Dollar (AUD/USD) goes from the descending trendline down.

A continuation of the downtrend down to the next support at 0.62258 is certain.

Caution: A possible change in the direction of the resistance level at 0.62539 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Current target is 0.6225997 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support line at 0.62539 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Three Outside Down’ candle pattern is existing. The chart forms ‘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 success rate of a ‘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