AUD/USD – 1H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline downwards
A descending movement downwards to the next support at is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.63775 should always be considered.
Consider stop-loss settings accordingly.
Besides a ‘Three Outside Down’ candlestick chart pattern is detected. The chart forms ‘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 likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63833 |
| 2nd High | 0.63824 |
| Next High | 0.63775 |
| Current Price | 0.62251 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down