AUD/USD – 30M – SELLThe combination Australian Dollar/US Dollar (AUD/USD) jumps from the descending trendline downwards
A continuation of the downward movement down to the next support level at is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.62056 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Current target is 0.61716 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.62056 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Two Crows’ candlestick pattern is discovered. The chart shows ‘Two Crows’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62358 |
| 2nd High | 0.62191 |
| Next High | 0.62056 |
| Current Price | 0.61520 |
| Next Low | |
| 2nd Low | |
| 3rd Low |