AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the descending trendline downwards
A continuation of the downward movement downwards to the next support line at 0.90960 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.91388 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Black Crows’ candlestick pattern is detected. The chart forms ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91821 |
| 2nd High | 0.91611 |
| Next High | 0.91388 |
| Current Price | 0.91046 |
| Next Low | 0.90960 |
| 2nd Low | 0.90865 |
| 3rd Low | 0.90704 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows