AUD/CAD – 4H – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline down.
The bearish trend downwards to the next support at will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 0.90789 is within the realm of possibility.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Down’ candle chart pattern is found. The candles show ‘Three Outside Down’. which is a negative pattern 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’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91347 |
| 2nd High | 0.90868 |
| Next High | 0.90789 |
| Current Price | 0.89800 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Down