AUD/CAD – 30M – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bullish trendline down.
A bearish descent down to the next support line at 0.89167 is expected.
Caution: A possible change in the direction of the resistance level at 0.89603 could happen.
Consider stop-loss settings accordingly.
Additionally a ‘Three Black Crows’ chart pattern is detected. The chart forms ‘Three Black Crows’. which is a bearish pattern signal. The 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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90173 |
| 2nd High | 0.89932 |
| Next High | 0.89603 |
| Current Price | 0.89217 |
| Next Low | 0.89167 |
| 2nd Low | 0.88881 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows