AUD/USD – 1H – SELL

The pair Australian Dollar/US Dollar (AUD/USD) goes from the ascending trendline down.

A bearish trend downwards to the next support level at 0.65534 is considered certain.

Caution: A possible reversal of the trend in the direction of resistance at is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Three Outside Down’ candlestick chart pattern is found. The candles show ‘Three Outside Down’. this is a bearish chart scenario. 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).

0.65636 – 0.65190 – 0.64952 – 0.65534 – 0.65225 – 0.65078

Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down – Double bottom retreat down