AUD/USD – 4H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.61788 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support level at 0.62465 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three Black Crows’ candle chart pattern is found. The candles show ‘Three Black Crows’. this is a bearish 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64291 |
| 2nd High | 0.62742 |
| Next High | 0.62465 |
| Current Price | 0.62310 |
| Next Low | 0.61788 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows