AUD/CAD – 1H – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bearish trendline down.
A continuation of the downtrend down to the next support line at 0.90178 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.91347 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Three Line Strike – Bearish’ candlestick chart pattern is discovered. The chart forms ‘Three Line Strike – Bearish’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Line Strike – Bearish’ going down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91347 |
| Current Price | 0.89873 |
| Next Low | 0.90178 |
| 2nd Low | 0.90079 |
| 3rd Low | 0.90002 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Line Strike – Bearish