AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at 0.90622 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.91208 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Black Crows’ chart pattern is existing. The candles show ‘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 success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91821 |
| 2nd High | 0.91611 |
| Next High | 0.91208 |
| Current Price | 0.90633 |
| Next Low | 0.90622 |
| 2nd Low | 0.90384 |
| 3rd Low | 0.90186 |