AUD/CAD – 30M – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline downwards
A descent down to the next support at 0.90791 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.91099 is also possible.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Current target is 0.91111896 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support line at 0.91099 is also possible.
Consider stop-loss settings accordingly.
There is also a ‘Three Black Crows’ candle chart pattern is found. The candles show ‘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 | 0.91293 |
| 2nd High | 0.91245 |
| Next High | 0.91099 |
| Current Price | 0.91063 |
| Next Low | 0.90791 |
| 2nd Low | 0.90681 |
| 3rd Low | 0.90494 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows