AUD/USD – 4H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) goes from the bullish trendline downwards
A descent down to the next support level at 0.62002 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 0.62465 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Outside Down’ candle pattern is found. The candles show ‘Three Outside Down’. this is a bearish signal. 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 | 0.64291 |
| 2nd High | 0.62742 |
| Next High | 0.62465 |
| Current Price | 0.62061 |
| Next Low | 0.62002 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down