AUD/CAD – 1H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the descending trendline downwards
A continuation of the bearish trend downwards to the next support level at 0.90939 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.91309 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.90966388 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support line at 0.91309 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Black Crows’ candlestick pattern is detected. The chart shows ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91821 |
| 2nd High | 0.91641 |
| Next High | 0.91309 |
| Current Price | 0.91061 |
| Next Low | 0.90939 |
| 2nd Low | 0.90858 |
| 3rd Low | 0.90758 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows