AUD/CAD – 4H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the ascending trendline down.
A descent down to the next support level at is likely expected.
Caution: A possible trend reversal in the direction of resistance at 0.90789 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.8983 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 0.90789 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Black Crows’ chart pattern is detected. The chart forms ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91347 |
| 2nd High | 0.90868 |
| Next High | 0.90789 |
| Current Price | 0.89561 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows