AUD/USD – 30M – SELL

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

A bearish descent downwards to the next support at 0.70514 is expected.

Caution: A possible counter-trend in the direction of the resistance line at 0.71164 is also possible.
Consider stop-loss settings accordingly.

Then a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which could be a negative chart scenario. The currency pair is likely to fall.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 0.70819 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 0.71164 is also possible.
Consider stop-loss settings accordingly.

Then a ‘Three Outside Down’ candlestick chart pattern is discovered. The chart forms ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to fall. 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).

0.70972 – 0.71164 – 0.71317 – 0.70514 – 0.70445 – 0.70321 —
0.70944 – 0.71223 —
55.086247461356 – 63.646672141699 —
– —
0.70972 – 1772452800

Trading Signals: FOREX – AUD – AUD/USD – USD – Three Outside Down – Symmetrical Triangle Chart Pattern – – – – – – – –