AUD/CAD – 1H – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline down.
A bearish trend downwards to the next support level at 0.88807 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.89718 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Black Crows’ candlestick pattern is existing. The candles form ‘Three Black Crows’. which is a bearish signal. 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 | 0.90446 |
| 2nd High | 0.89829 |
| Next High | 0.89718 |
| Current Price | 0.89305 |
| Next Low | 0.88807 |
| 2nd Low | 0.88790 |
| 3rd Low | 0.88001 |
0.89308 – 0.89301 – 0.89718 – 0.88807 – 0.88790 – 0.89032
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows