AUD/CAD – 1H – SELL

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

A continuation of the downward movement down to the next support at is expected.

Caution: A possible trend reversal in the direction of the resistance level at 0.89722 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.89413 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 0.89722 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Three Black Crows’ candlestick pattern is existing. The chart shows ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.

Download AUD/CAD Signal Image

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