AUD/CAD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Current target is 0.90867648 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support zone at 0.91139 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish Engulfing’ candlestick chart pattern is existing. The candles form ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91139 |
| Current Price | 0.90810 |
| Next Low | 0.90776 |
| 2nd Low | 0.90710 |
| 3rd Low | 0.90681 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing