AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support level at 0.88881 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.89932 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.89394 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 0.89932 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Black Crows’ chart pattern is detected. The chart forms ‘Three Black Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90173 |
| Next High | 0.89932 |
| Current Price | 0.89190 |
| Next Low | 0.88881 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows