AUD/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 0.62576 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support level at 0.63058 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ candlestick chart pattern is discovered. The candles form ‘Three Black Crows’. which is a negative signal. 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 | 0.63663 |
| 2nd High | 0.63634 |
| Next High | 0.63058 |
| Current Price | 0.62833 |
| Next Low | 0.62576 |
| 2nd Low | 0.62336 |
| 3rd Low | 0.61961 |
0.63058 – 0.63634 – 0.63663 – 0.62576 – 0.62708 – 0.63282
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows