EURUSD Three Inside Down Hourly Chart
Resistance: 1.3045 moderate/1.3121 minor/1.3184 minor
Support: 1.2982 strong/1.2905 moderate/1.2843 minor
EURUSD is generally bullish with a high level bearish reversal pattern Three Inside Down in Hourly charts just above a strong support level at 1.2982, the Pivot Point. Look to sell on a push under 1.2982 with stop losses just above the Three Inside Down high. Our immediate objective is 1.2905 break of which may see us dropping to 1.2843.
AUDUSD Three Inside Down Hourly Chart
Resistance: 1.0542 minor/1.0603 minor
Support: 1.0489 moderate/1.0428 strong/1.0374 moderate
Three Inside Down is just above a moderate support at 1.0489 with AUDUSD Hourly charts generally bullish. Given that this is a high level bearish reversal pattern consider shorts only when prices are under 1.0489 the immediate objective a strong support at 1.0428, the daily Pivot. Stop losses should be placed above the patterns high. A break of 1.0428 could see us moving to 1.0374.
USDCHF Three Inside Up Hourly Chart
Resistance: 0.9317 strong/0.9371 moderate/0.9410 minor
Support: 0.9277 moderate/0.9223 minor/0.9184 minor
USDCHF has a bearish bias though Hourly charts has formed a bullish reversal pattern Three Inside Up. With a strong resistance at 0.9317, the Pivot Point, just ahead of the pattern the preferred course of action is to wait for a push past 0.9317 before buying. Immediate target is 0.9371 then on to 0.9410. Stops should be placed below the patterns low.
Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices