The post Three Black Crows reversal pattern a bearish omen appeared on BitcoinEthereumNews.com.

AUD/NZD has confirmed a bearish reversal pattern after peaking in late November.  The MACD has crossed below its signal line providing a sell signal. AUD/NZD has completed a Three Black Crows candlestick pattern (red rectangle on chart) after peaking at the November 25 multi-month high. AUD/NZD Daily Chart  The Three Black Crows is a Japanese candlestick pattern which occurs after a market peak, when three red down days occur consecutively. Such a pattern indicates the odds favor AUD/NZD moving to lower lows.  The (blue) Moving Average Convergence Divergence (MACD) has crossed below its red signal line, giving a sell signal and reinforcing the bearish candlestick pattern.  Support lies first at the 200-day Simple Moving Average (SMA) at 1.9029 and then at the trendline for the broader uptrend at around 1.0900.  A break below the low of the Three Black Crows at 1.0992 would confirm a continuation to the above-mentioned targets.    Source: https://www.fxstreet.com/news/aud-nzd-price-prediction-three-black-crows-reversal-pattern-a-bearish-omen-202411281202

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Filed under: News - @ November 28, 2024 1:19 pm