AUD/CAD – 30M – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline downwards
A descent down to the next support level at 0.88090 will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 0.88740 should always be considered.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candlestick chart pattern is discovered. The chart shows ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
In addition a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. which could be a negative chart scenario. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89829 |
| 2nd High | 0.88787 |
| Next High | 0.88740 |
| Current Price | 0.88609 |
| Next Low | 0.88090 |
| 2nd Low | 0.87954 |
| 3rd Low | 0.87917 |
0.88520 – 0.88581 – 0.88740 – 0.88090 – 0.88222 – 0.88215
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows