AUD/CAD – 4H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline downwards
A bearish movement down to the next support level at 0.89514 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.90423 could occur.
Consider stop-loss settings accordingly.
Moreover a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which could be a negative signal. The currency pair could go down.
Moreover a ‘Three Outside Down’ candle pattern is found. The candles show ‘Three Outside Down’. this 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 likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91293 |
| 2nd High | 0.90446 |
| Next High | 0.90423 |
| Current Price | 0.90110 |
| Next Low | 0.89514 |
| 2nd Low | 0.89029 |
| 3rd Low | 0.88988 |
0.89938 – 0.90032 – 0.90275 – 0.89514 – 0.89029 – 0.88988 — 55.567037192985 – 55.024640045292 — 82.00509248148 – 74.396169533605 – 89.142696264066 – 83.219063313493
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Down – Triple bottom chart pattern – –