AUD/USD – 30M – SELLThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support level at 0.61871 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.62191 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Black Crows’ candle pattern is detected. The candles show ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62878 |
| 2nd High | 0.62358 |
| Next High | 0.62191 |
| Current Price | 0.62026 |
| Next Low | 0.61871 |
| 2nd Low | 0.61788 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows