AUD/CAD – 1H – SELL

The pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bearish trendline down.

A continuation of the downward movement down to the next support at 0.88229 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 0.88722 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three Black Crows’ candle pattern is existing. The candles form ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.

Besides a ‘Double top chart pattern’ chart formation is existing. The chart picture forms ‘Double top chart pattern’. which is a bearish signal. The currency pair is likely to fall.

0.88722 – 0.89114 – 0.88986 – 0.88229 – 0.88391 – 0.88412

Download AUD/CAD Signal Image

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows