AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the ascending trendline down.
A bearish movement downwards to the next support level at 0.88881 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.89932 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ candle chart pattern is detected. The candles show ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90173 |
| Next High | 0.89932 |
| Current Price | 0.89082 |
| Next Low | 0.88881 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows