AUD/CAD – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Current target is 0.89705 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 0.89837 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Black Crows’ candlestick pattern is existing. The chart forms ‘Three Black Crows’. which is a negative pattern signal. The 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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90032 |
| Next High | 0.89837 |
| Current Price | 0.89781 |
| Next Low | 0.89378 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows