AUD/USD – 1H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.61918 is certain.
Caution: A possible change in the direction of resistance at 0.62206 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candlestick chart pattern is discovered. The candles show ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62465 |
| 2nd High | 0.62225 |
| Next High | 0.62206 |
| Current Price | 0.62141 |
| Next Low | 0.61918 |
| 2nd Low | 0.61788 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows