AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline down.
A descent downwards to the next support line at 0.90960 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 0.91293 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Black Crows’ candle pattern is found. The chart forms ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91611 |
| 2nd High | 0.91388 |
| Next High | 0.91293 |
| Current Price | 0.91011 |
| Next Low | 0.90960 |
| 2nd Low | 0.90865 |
| 3rd Low | 0.90704 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows