AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline downwards
A descending movement down to the next support line at 0.88881 is likely expected.
Caution: A possible change in the direction of resistance at 0.89899 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Black Crows’ candle pattern is existing. The chart shows ‘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 chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89497 |
| Next Low | 0.88881 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows