AUD/CAD – 1H – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the descending trendline down.
A continuation of the downtrend down to the next support level at 0.92611 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.93211 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 0.929045 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 0.93211 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candlestick pattern is found. The chart forms ‘Three Black Crows’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93445 |
| 2nd High | 0.93236 |
| Next High | 0.93211 |
| Current Price | 0.93056 |
| Next Low | 0.92611 |
| 2nd Low | 0.92573 |
| 3rd Low | 0.91688 |
0.93031 – 0.93211 – 0.93236 – 0.92611 – 0.92699 – 0.92573 —
0.93125 – 0.93196 —
65.266266293464 – 62.653624734529 —
– —
0.93031 – 1768381200
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows – – – – – – – – –