AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline downwards
The bearish trend downwards to the next support at 0.89066 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.89932 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Black Crows’ candlestick pattern is detected. The chart shows ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90173 |
| Next High | 0.89932 |
| Current Price | 0.89118 |
| Next Low | 0.89066 |
| 2nd Low | 0.88881 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows