AUD/USD – 1H – SELLThe pair Australian Dollar/US Dollar (AUD/USD) jumps from the descending trendline down.
A continuation of the downward movement downwards to the next support at 0.62147 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.62742 could be enabled.
Consider stop-loss settings accordingly.
Besides a ‘Three Black Crows’ candle pattern is found. The chart shows ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63775 |
| 2nd High | 0.63269 |
| Next High | 0.62742 |
| Current Price | 0.62400 |
| Next Low | 0.62147 |
| 2nd Low | 0.61987 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows