AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support at 0.90178 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.90461 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three Outside Down’ chart pattern is detected. The chart shows ‘Three Outside Down’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91378 |
| 2nd High | 0.91347 |
| Next High | 0.90461 |
| Current Price | 0.90097 |
| Next Low | 0.90178 |
| 2nd Low | 0.90079 |
| 3rd Low | 0.90002 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Down