AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 0.89215 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.89714 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three Black Crows’ candle pattern is detected. The candles form ‘Three Black Crows’. this is a bearish 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 | 0.90032 |
| 2nd High | 0.89899 |
| Next High | 0.89714 |
| Current Price | 0.89477 |
| Next Low | 0.89215 |
| 2nd Low | 0.88881 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows