AUD/USD – 1H – SELL

The pair Australian Dollar/US Dollar (AUD/USD) goes from the bearish trendline downwards

A continuation of the bearish trend down to the next support level at 0.70207 is likely expected.

Caution: A possible trend reversal in the direction of the resistance line at 0.70548 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘MACD crosses below signal’ indicator layout is discovered. The indicator is ‘MACD crosses below signal’. which could be a negative signal. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 0.702435 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support line at 0.70548 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Two Crows’ candlestick chart pattern is detected. The candles form ‘Two Crows’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).

0.70548 – 0.70116 – 0.7037 – 0.70207 – 0.69786 – 0.6987 —
0.70529 – 0.70530 —
61.515697649592 – 60.215555304067 —
– —
0.70548 – 1781215200

Trading Signals: FOREX – AUD – AUD/USD – USD – Two Crows – – – – – – – – –