AUD/CAD – 4H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 0.89349932 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of support at 0.89899 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Harami’ candlestick chart pattern is found. The candles form ‘Bearish Harami’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90789 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89617 |
| Next Low | 0.88881 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Harami