AUD/CAD – 1H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline downwards
A descending movement downwards to the next support level at 0.89215 will continue.
Caution: A possible change in the direction of the resistance zone at 0.89932 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Three Inside Down’ candle chart pattern is existing. The chart shows ‘Three Inside Down’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90173 |
| Next High | 0.89932 |
| Current Price | 0.89305 |
| Next Low | 0.89215 |
| 2nd Low | 0.88881 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Inside Down