AUD/USD – 30M – SELLThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the bearish trendline downwards
A continuation of the downtrend down to the next support line at 0.61890 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 0.62040 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 0.61716 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 0.62040 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Two Crows’ chart pattern is existing. The candles form ‘Two Crows’. this 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 probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62358 |
| 2nd High | 0.62191 |
| Next High | 0.62040 |
| Current Price | 0.61894 |
| Next Low | 0.61890 |
| 2nd Low | 0.61716 |
| 3rd Low |