AUD/USD – 1H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) jumps from the ascending trendline down.
A bearish trend downwards to the next support level at 0.63675 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.64350 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.6418463 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support level at 0.64350 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Outside Down’ candlestick chart pattern is discovered. The chart forms ‘Three Outside Down’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
Furthermore a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair could go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.64389 |
| Next High | 0.64350 |
| Current Price | 0.64157 |
| Next Low | 0.63675 |
| 2nd Low | 0.63434 |
| 3rd Low | 0.63330 |
0.64061 – 0.64205 – 0.64350 – 0.63675 – 0.63743 – 0.63434
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down