AUD/USD – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 0.61987 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 0.63269 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Three Black Crows’ candlestick chart pattern is found. The candles form ‘Three Black Crows’. which is a negative 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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63824 |
| 2nd High | 0.63775 |
| Next High | 0.63269 |
| Current Price | 0.62387 |
| Next Low | 0.61987 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows