AUD/CAD – 1H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bullish trendline down.
A descending movement downwards to the next support at 0.90379 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.90868 could happen.
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 is certain. Current target is 0.90188012 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support line at 0.90868 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Black Crows’ candlestick chart pattern is existing. The chart forms ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. 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 | 0.91378 |
| 2nd High | 0.91347 |
| Next High | 0.90868 |
| Current Price | 0.90511 |
| Next Low | 0.90379 |
| 2nd Low | 0.89830 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows