AUD/CAD – 1H – SELL

The combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bearish trendline down.

A continuation of the downtrend downwards to the next support line at 0.90710 will persist.

Caution: A possible trend reversal in the direction of the resistance zone at 0.91378 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.90929716 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of support at 0.91378 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Three Black Crows’ chart pattern is detected. The candles form ‘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 likelyhood of ‘Three Black Crows’ heading down is 82%.

Download AUD/CAD Signal Image

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows