AUD/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.61947772 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 0.62225 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle pattern is detected. The chart shows ‘Three Black 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 success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62329 |
| 2nd High | 0.62313 |
| Next High | 0.62225 |
| Current Price | 0.62041 |
| Next Low | 0.62007 |
| 2nd Low | 0.61788 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows