AUD/USD – 4H – SELL

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

A continuation of the downward movement down to the next support at 0.63363 will continue.

Caution: A possible counter-trend in the direction of the resistance line at 0.64291 should be noted.
Consider stop-loss settings accordingly.

Then a ‘Three Outside Down’ candle pattern is found. The chart forms ‘Three Outside Down’. which is a negative pattern 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