AUD/USD – 1H – BUYThe pair Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support at 0.63650 will continue.
Caution: A possible trend reversal in the direction of resistance at 0.64712 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Outside Down’ candlestick pattern is existing. The candles show ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65259 |
| 2nd High | 0.65043 |
| Next High | 0.64712 |
| Current Price | 0.63461 |
| Next Low | 0.63650 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down