AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline downwards
A descent down to the next support line at 0.90865 will continue.
Caution: A possible counter-trend in the direction of resistance at 0.91611 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Black Crows’ candlestick pattern is existing. The chart forms ‘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 chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.92703 |
| 2nd High | 0.91821 |
| Next High | 0.91611 |
| Current Price | 0.91029 |
| Next Low | 0.90865 |
| 2nd Low | 0.90704 |
| 3rd Low | 0.90439 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows