AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) moves from the bearish trendline down.
A continuation of the downward movement down to the next support line at 0.62017 will continue.
Caution: A possible change in the direction of the resistance line at 0.62206 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Target of the current trend is 0.620585 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support line at 0.62206 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Outside Down’ chart pattern is discovered. The chart shows ‘Three Outside Down’. which is a bearish 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’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62313 |
| 2nd High | 0.62225 |
| Next High | 0.62206 |
| Current Price | 0.62167 |
| Next Low | 0.62017 |
| 2nd Low | 0.61918 |
| 3rd Low | 0.61788 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down