AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bearish trendline down.
A continuation of the downtrend down to the next support at 0.89378 will persist.
Caution: A possible change in the direction of the resistance line at 0.89660 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.89378 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support level at 0.89660 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Black Crows’ candle pattern is existing. The chart shows ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89735 |
| 2nd High | 0.89722 |
| Next High | 0.89660 |
| Current Price | 0.89452 |
| Next Low | 0.89378 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows