AUD/USD – 1H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) moves from the ascending trendline down.
A descent downwards to the next support level at 0.61976 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.63021 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ candle chart pattern is found. The chart forms ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to fall. 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 | 0.63775 |
| 2nd High | 0.63269 |
| Next High | 0.63021 |
| Current Price | 0.62475 |
| Next Low | 0.61976 |
| 2nd Low | 0.61918 |
| 3rd Low | 0.61788 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows