AUD/USD – 4H – SELL

In addition a ‘Rising Wedge Chart Pattern’ chart formation is discovered. The chart picture shows ‘Rising Wedge Chart Pattern’. this is a bearish chart scenario. The currency pair is likely to go down.

The pair Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline down.

A descent down to the next support line at 0.64560 is considered certain.

Caution: A possible trend reversal in the direction of the resistance zone at 0.65517 is within the realm of possibility.
Consider stop-loss settings accordingly.

In addition a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart scenario. The pair is likely to go down.

In addition a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. which could be a negative chart scenario. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Current target is 0.64378086 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of support at 0.65517 is within the realm of possibility.
Consider stop-loss settings accordingly.

In addition a ‘Three Outside Down’ chart pattern is detected. The chart shows ‘Three Outside Down’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

0.65517 – 0.65455 – 0.65377 – 0.64560 – 0.64791 – 0.64068

Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down