AUD/CAD – 1H – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bullish trendline down.
A descent down to the next support at 0.89394 will continue.
Caution: A possible change in the direction of the resistance zone at 0.90173 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ chart pattern is detected. The candles show ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90789 |
| 2nd High | 0.90785 |
| Next High | 0.90173 |
| Current Price | 0.89613 |
| Next Low | 0.89394 |
| 2nd Low | 0.89215 |
| 3rd Low | 0.88881 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows