AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline down.
A descent down to the next support at 0.89574 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.90173 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.89420012 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.90173 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ candlestick pattern is detected. The candles show ‘Three Black Crows’. which is a negative pattern 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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90517 |
| Next High | 0.90173 |
| Current Price | 0.89640 |
| Next Low | 0.89574 |
| 2nd Low | 0.89518 |
| 3rd Low | 0.89298 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows