AUD/USD – 1H – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) jumps from the ascending trendline downwards
A descending movement downwards to the next support line at 0.61987 is expected.
Caution: A possible change in the direction of the resistance line at 0.62465 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candlestick chart pattern is existing. The candles show ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62646 |
| 2nd High | 0.62539 |
| Next High | 0.62465 |
| Current Price | 0.61998 |
| Next Low | 0.61987 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows