AUD/USD – 1H – SELL

The combination Australian Dollar/US Dollar (AUD/USD) jumps from the descending trendline downwards

A continuation of the bearish trend down to the next support level at 0.71298 is likely expected.

Caution: A possible change in the direction of the resistance level at 0.71856 could happen.
In the case of a trade, always set appropriate stop-loss settings.

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

0.71856 – 0.71824 – 0.72215 – 0.71298 – 0.71143 – 0.71518 —
0.71633 – 0.71704 —
51.271699480276 – 56.443718193837 —
– —
0.71856 – 1776790800

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