AUD/CAD – 4H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support level at 0.90340 is likely expected.
Caution: A possible change in the direction of the resistance line at 0.90868 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Black Crows’ candle chart pattern is detected. The chart shows ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91378 |
| 2nd High | 0.91347 |
| Next High | 0.90868 |
| Current Price | 0.90430 |
| Next Low | 0.90340 |
| 2nd Low | 0.89830 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows