AUD/CAD – 1H – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 0.89623 will persist.
Caution: A possible counter-trend in the direction of resistance at 0.90009 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Black Crows’ candlestick pattern is existing. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. 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 | 0.90009 |
| Current Price | 0.89664 |
| Next Low | 0.89623 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows