AUD/CAD – 30M – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline downwards
A bearish trend downwards to the next support at is certain.
Caution: A possible change in the direction of the resistance level at 0.93445 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart signal. The currency pair could go down.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.925665 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 0.93445 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Outside Down’ candlestick pattern is detected. The candles form ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.93445 |
| Current Price | 0.92914 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.93445 – 0.92696 – 0.9196 – 0.9284 – 0.92418 – 0.92317 —
0.93046 – 0.93072 —
42.437093550731 – 50.131380497618 —
– —
0.93445 – 1767765600
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Down – Double bottom chart pattern – – – – – – – –