AUD/CAD – 1H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 0.89378 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 0.89722 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Black Crows’ candlestick pattern is existing. The candles show ‘Three Black Crows’. this is a bearish pattern 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 ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89837 |
| 2nd High | 0.89735 |
| Next High | 0.89722 |
| Current Price | 0.89580 |
| Next Low | 0.89378 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows