AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the bearish trendline downwards
A continuation of the downward movement down to the next support level at 0.62044 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 0.62257 is also possible.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Down’ candle chart pattern is existing. The candles show ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to fall. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62646 |
| 2nd High | 0.62539 |
| Next High | 0.62257 |
| Current Price | 0.62102 |
| Next Low | 0.62044 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down