AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bullish trendline down.
A descending movement down to the next support at 0.89759 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 0.89878 is also possible.
Consider stop-loss settings accordingly.
Moreover a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. this is usually a bearish chart signal. The pair is likely to go down.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 0.89754 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 0.89878 is also possible.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89926 |
| 2nd High | 0.89923 |
| Next High | 0.89878 |
| Current Price | 0.89816 |
| Next Low | 0.89759 |
| 2nd Low | 0.89666 |
| 3rd Low | 0.89582 |
0.89878 – 0.89923 – 0.89926 – 0.89759 – 0.89666 – 0.89704 — 51.572644099516 – 48.315276045494 — 44.129908385132 – 53.126638208642 – 24.431543191365 – 41.785489594967
Trading Signals: FOREX – AUD – AUD/CAD – CAD – – Rising Wedge Chart Pattern – –