AUD/CAD – 30M – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline down.
A bearish movement down to the next support at 0.89664 is likely expected.
Caution: A possible change in the direction of the resistance zone at 0.90275 is also possible.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Outside Down’ candlestick pattern is discovered. The candles form ‘Three Outside Down’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90446 |
| 2nd High | 0.90423 |
| Next High | 0.90275 |
| Current Price | 0.90680 |
| Next Low | 0.89664 |
| 2nd Low | 0.89622 |
| 3rd Low | 0.89514 |
0.8998 – 0.8994 – 0.89877 – 0.89664 – 0.89665 – 0.89622 — 70.046892624302 – 65.827335823238 — 89.798793423495 – 76.10713338637 – 85.488486696721 – 88.635308936622
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Down – Double bottom retreat down – –