AUD/USD – 30M – SELLCorrection of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Current target is 0.6214857 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support level at 0.62646 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three Outside Down’ chart pattern is discovered. The candles show ‘Three Outside Down’. which is a negative pattern signal. The currency 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63269 |
| 2nd High | 0.62742 |
| Next High | 0.62646 |
| Current Price | 0.62290 |
| Next Low | 0.62147 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down