AUD/CAD – 1H – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bullish trendline down.
A bearish trend downwards to the next support at 0.89830 will continue.
Caution: A possible counter-trend in the direction of resistance at 0.90785 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Line Strike – Bearish’ candle pattern is found. The candles show ‘Three Line Strike – Bearish’. which is a negative chart scenario. 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’ going down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90868 |
| 2nd High | 0.90789 |
| Next High | 0.90785 |
| Current Price | 0.90316 |
| Next Low | 0.89830 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Line Strike – Bearish