AUD/CAD – 1H – SELL

The pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline down.

A bearish trend down to the next support at 0.95664 is likely expected.

Caution: A possible trend reversal in the direction of the resistance level at 0.96376 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘MACD crosses below signal’ indicator layout is existing. The indicator is ‘MACD crosses below signal’. which is often a bearish chart signal. The pair is likely to go down.

Moreover a ‘Three Outside Down’ chart pattern is discovered. The candles show ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.96376 – 0.96267 – 0.96103 – 0.95664 – 0.95753 – 0.94644 —
0.96796 – 0.96955 —
70.147311537608 – 74.083934930511 —
– —
0.96376 – 1770782400

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