AUD/CAD – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.89864 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.90279 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three Black Crows’ candlestick chart pattern is found. The chart shows ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91293 |
| 2nd High | 0.91120 |
| Next High | 0.90279 |
| Current Price | 0.89974 |
| Next Low | 0.89864 |
| 2nd Low | 0.89654 |
| 3rd Low | 0.89509 |
0.90279 – 0.91120 – 0.91051 – 0.89864 – 0.90508 – 0.90776
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows