AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the descending trendline down.
A continuation of the downward movement down to the next support line at 0.92858 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.93445 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘%K crosses below %D’ indicator layout is detected. The indicator shows ‘%K crosses below %D’. which is often a bearish signal. The currency pair is likely to fall.
Furthermore a ‘MACD crosses below signal’ indicator layout is detected. The indicator shows ‘MACD crosses below signal’. which is often a bearish signal. The currency pair is likely to fall.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 0.92881 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 0.93445 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Two Crows’ candlestick pattern is discovered. The candles form ‘Two Crows’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.93445 |
| Current Price | 0.93047 |
| Next Low | 0.92858 |
| 2nd Low | 0.9284 |
| 3rd Low | 0.92418 |
0.93445 – 0.92696 – 0.9196 – 0.92858 – 0.9284 – 0.92418 —
0.93126 – 0.93223 —
54.09581874777 – 62.653868324776 —
– —
0.93445 – 1767765600
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Two Crows – Double top chart pattern – – – – – – – –