AUD/CAD – 30M – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline downwards
A bearish trend downwards to the next support level at 0.90865 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.91388 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.909135 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.91388 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three Black Crows’ candlestick chart pattern is existing. The candles show ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91747 |
| 2nd High | 0.91611 |
| Next High | 0.91388 |
| Current Price | 0.91059 |
| Next Low | 0.90865 |
| 2nd Low | 0.90704 |
| 3rd Low | 0.90494 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows