AUD/USD – 30M – SELLThe pair Australian Dollar/US Dollar (AUD/USD) moves from the descending trendline down.
A continuation of the bearish trend downwards to the next support level at 0.63793 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 0.64712 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ candlestick pattern is found. The candles form ‘Three Black Crows’. which 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 likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65043 |
| 2nd High | 0.64935 |
| Next High | 0.64712 |
| Current Price | 0.63690 |
| Next Low | 0.63793 |
| 2nd Low | 0.63724 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows