AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bearish trendline downwards
A continuation of the downward movement downwards to the next support line at 0.89554 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.89722 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ candle chart pattern is found. The chart forms ‘Three Black Crows’. which is a bearish signal. The currency 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 | 0.89837 |
| 2nd High | 0.89735 |
| Next High | 0.89722 |
| Current Price | 0.89526 |
| Next Low | 0.89554 |
| 2nd Low | 0.89413 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows