AUD/CAD – 30M – SELL

The pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the descending trendline downwards

A continuation of the downtrend downwards to the next support at 0.89668 is certain.

Caution: A possible counter-trend in the direction of the resistance level at 0.89987 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Current target is 0.897795 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 0.89987 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Three Black Crows’ candle pattern is existing. The chart forms ‘Three Black Crows’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.

Download AUD/CAD Signal Image

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows