AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) goes from the ascending trendline downwards
A descending movement down to the next support at 0.62002 will persist.
Caution: A possible trend reversal in the direction of resistance at 0.62313 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Outside Down’ candlestick chart pattern is discovered. The chart shows ‘Three Outside Down’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62465 |
| 2nd High | 0.62329 |
| Next High | 0.62313 |
| Current Price | 0.61877 |
| Next Low | 0.62002 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down