AUD/CAD – 30M – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline down.
The bearish trend downwards to the next support level at 0.89623 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.90517 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Three Black Crows’ candlestick chart pattern is detected. The candles form ‘Three Black Crows’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘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 | 0.89835 |
| Next Low | 0.89623 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows