AUD/USD – 4H – SELLThe currency pair Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline downwards
A bearish trend down to the next support level at 0.62576 will persist.
Caution: A possible change in the direction of the resistance zone at 0.63302 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Black Crows’ candle chart pattern is existing. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
Moreover a ‘Double top chart pattern’ chart formation is detected. The chart forms ‘Double top chart pattern’. which is a bearish signal. The currency pair is likely to go down.
Moreover a ‘Support Level’ indicator layout is discovered. The indicator is ‘Support Level’. which could be a negative signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.63906 |
| Next High | 0.63302 |
| Current Price | 0.62357 |
| Next Low | 0.62576 |
| 2nd Low | 0.61867 |
| 3rd Low |
0.63302 – 0.63906 – 0.63334 – 0.62576 – 0.62689 – 0.62584
Trading Signals: FOREX – AUD – AUD/USD – USD – Three Black Crows