AUD/CAD – 4H – SELL

The pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the descending trendline downwards

A continuation of the downtrend down to the next support level at 0.87897 will persist.

Caution: A possible counter-trend in the direction of resistance at 0.89608 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. this is usually a bearish chart signal. The pair is likely to go down.

Then a ‘Three Outside Down’ candle pattern is detected. The candles form ‘Three Outside Down’. 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 success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.89608 – 0.89273 – 0.89469 – 0.87897 – 0.87970 – 0.88497

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Down – Rising Wedge Chart Pattern