AUD/CAD – 30M – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline downwards
A bearish movement downwards to the next support level at 0.89032 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.89383 is also possible.
Consider stop-loss settings accordingly.
And also a ‘Two Crows’ chart pattern is detected. The candles form ‘Two Crows’. which 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 ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
And also a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair could go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89829 |
| 2nd High | 0.89632 |
| Next High | 0.89383 |
| Current Price | 0.89344 |
| Next Low | 0.89032 |
| 2nd Low | 0.88001 |
| 3rd Low | 0.87970 |
0.89383 – 0.89632 – 0.89143 – 0.89032 – 0.89163 – 0.89258