AUD/CAD – 1H – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bearish trendline downwards
A continuation of the downward movement down to the next support line at 0.90186 is expected.
Caution: A possible trend reversal in the direction of resistance at 0.91378 could occur.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Current target is 0.9071 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 0.91378 could occur.
Consider stop-loss settings accordingly.
Moreover a ‘Three Black Crows’ chart pattern is discovered. The chart shows ‘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 success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91821 |
| 2nd High | 0.91641 |
| Next High | 0.91378 |
| Current Price | 0.90309 |
| Next Low | 0.90186 |
| 2nd Low | 0.90171 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows