AUD/CAD – 1H – SELL

The combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline down.

A descending movement downwards to the next support level at 0.89830 is likely expected.

Caution: A possible change in the direction of the resistance level at 0.90785 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Three Outside Down’ candle chart pattern is discovered. The chart forms ‘Three Outside Down’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

Download AUD/CAD Signal Image

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Down