AUD/CAD – 1H – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bearish trendline down.
A continuation of the downward movement down to the next support at 0.90758 will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 0.91641 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Black Crows’ chart pattern is found. The chart shows ‘Three Black Crows’. which 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 Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.92703 |
| 2nd High | 0.91821 |
| Next High | 0.91641 |
| Current Price | 0.91049 |
| Next Low | 0.90758 |
| 2nd Low | 0.90681 |
| 3rd Low | 0.90439 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows