AUD/CAD – 1H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the ascending trendline down.
The bearish trend down to the next support at 0.89394 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.90173 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Black Crows’ candlestick chart pattern is detected. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90789 |
| 2nd High | 0.90785 |
| Next High | 0.90173 |
| Current Price | 0.89809 |
| Next Low | 0.89394 |
| 2nd Low | 0.89215 |
| 3rd Low | 0.88881 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows