AUD/CAD – 1H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bearish trendline downwards
A continuation of the downward movement down to the next support line at 0.89378 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 0.89899 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Two Crows’ candlestick chart pattern is found. The chart forms ‘Two Crows’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89361 |
| Next Low | 0.89378 |
| 2nd Low | |
| 3rd Low |