AUD/CAD – 4H – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the descending trendline downwards
A continuation of the downward movement downwards to the next support level at 0.89830 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.90868 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Line Strike – Bearish’ candlestick pattern is discovered. The candles show ‘Three Line Strike – Bearish’. 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 probability of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91378 |
| 2nd High | 0.91347 |
| Next High | 0.90868 |
| Current Price | 0.90617 |
| Next Low | 0.89830 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Line Strike – Bearish