AUD/CAD – 30M – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline down.
A bearish descent down to the next support at 0.89830 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 0.90517 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candlestick pattern is existing. The candles form ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90789 |
| 2nd High | 0.90785 |
| Next High | 0.90517 |
| Current Price | 0.89847 |
| Next Low | 0.89830 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows