AUD/USD – 1H – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) jumps from the ascending trendline down.
A bearish trend downwards to the next support at 0.61976 is likely expected.
Caution: A possible change in the direction of the resistance line at 0.62878 could be enabled.
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 form ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63269 |
| 2nd High | 0.63021 |
| Next High | 0.62878 |
| Current Price | 0.62165 |
| Next Low | 0.61976 |
| 2nd Low | 0.61918 |
| 3rd Low | 0.61788 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows