AUD/USD – 1H – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) goes from the descending trendline down.
A continuation of the downward movement down to the next support at 0.63539 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.64291 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.63363 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of support at 0.64291 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Black Crows’ candle pattern is discovered. The chart forms ‘Three Black Crows’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65043 |
| 2nd High | 0.64712 |
| Next High | 0.64291 |
| Current Price | 0.63589 |
| Next Low | 0.63539 |
| 2nd Low | 0.63363 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows