AUD/USD – 30M – SELLThe combination Australian Dollar/US Dollar (AUD/USD) moves from the ascending trendline down.
A bearish movement downwards to the next support line at 0.64819 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 0.65441 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 0.6464321 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support line at 0.65441 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Black Crows’ chart pattern is existing. The candles show ‘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 success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.65569 |
| 2nd High | 0.65457 |
| Next High | 0.65441 |
| Current Price | 0.64862 |
| Next Low | 0.64819 |
| 2nd Low | 0.64476 |
| 3rd Low | 0.64426 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows