AUD/CAD – 30M – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.93081 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish chart scenario. The currency pair is likely to fall.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.9286895 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.93081 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Outside Down’ candlestick chart pattern is discovered. The chart forms ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93203 |
| 2nd High | 0.93196 |
| Next High | 0.93081 |
| Current Price | 0.92958 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.93081 – 0.93196 – 0.93142 – 0.92778 – 0.92836 – 0.92979 —
0.92916 – 0.93023 —
44.788829595804 – 55.07029090083 —
– —
0.93081 – 1768595400
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Down – – – – – – – – –