AUD/USD – 30M – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 0.63434 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 0.64350 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Outside Down’ candle chart pattern is existing. The chart shows ‘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 success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.64389 |
| Next High | 0.64350 |
| Current Price | 0.64058 |
| Next Low | 0.63434 |
| 2nd Low | 0.63330 |
| 3rd Low | 0.63220 |
0.64350 – 0.64247 – 0.64050 – 0.63434 – 0.63518 – 0.63488
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down