AUD/USD – 1H – SELLThe combination Australian Dollar/US Dollar (AUD/USD) goes from the ascending trendline down.
A bearish movement downwards to the next support level at 0.61976 is expected.
Caution: A possible change in the direction of the resistance level at 0.63021 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ candlestick pattern is detected. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.63775 |
| 2nd High | 0.63269 |
| Next High | 0.63021 |
| Current Price | 0.62715 |
| Next Low | 0.61976 |
| 2nd Low | 0.61918 |
| 3rd Low | 0.61788 |
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows