AUD/CAD – 30M – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline downwards
A descending movement downwards to the next support level at 0.89241 will persist.
Caution: A possible counter-trend in the direction of resistance at 0.89667 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle chart pattern is detected. The chart shows ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90110 |
| 2nd High | 0.89671 |
| Next High | 0.89667 |
| Current Price | 0.89713 |
| Next Low | 0.89241 |
| 2nd Low | 0.89210 |
| 3rd Low | 0.89051 |
0.89667 – 0.89536 – 0.89607 – 0.89241 – 0.89210 – 0.89051
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows –