AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline down.
A continuation of the downtrend downwards to the next support at 0.62002 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 0.62257 should be noted.
Consider stop-loss settings accordingly.
Besides a ‘Three Black Crows’ candlestick chart pattern is existing. The chart forms ‘Three Black Crows’. 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 Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62646 |
| 2nd High | 0.62539 |
| Next High | 0.62257 |
| Current Price | 0.62211 |
| Next Low | 0.62002 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows