AUD/CAD – 1H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the ascending trendline downwards
A bearish trend down to the next support level at 0.97539 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.97992 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. which could be a negative chart scenario. The currency pair could go down.
Furthermore a ‘Two Crows’ chart pattern is existing. The candles show ‘Two Crows’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.98648 |
| 2nd High | 0.98335 |
| Next High | 0.97992 |
| Current Price | 0.97954 |
| Next Low | 0.97539 |
| 2nd Low | 0.97222 |
| 3rd Low | 0.96835 |
0.97992 – 0.98335 – 0.97996 – 0.97539 – 0.97222 – 0.97717 —
0.98054 – 0.98054 —
68.943680019632 – 66.626936763511 —
– —
0.97992 – 1777568400
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Two Crows – – – – – – – – –