The combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline down.
A descending movement downwards to the next support line at 0.88549 is considered certain.
Caution: A possible change in the direction of the resistance zone at 0.89273 is also possible.
Consider stop-loss settings accordingly.
Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart signal. The currency pair is likely to fall.
Then a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which is often a bearish signal. The currency pair could go down.
Then a ‘Three Black Crows’ candlestick chart pattern is discovered. The chart forms ‘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 likelyhood of ‘Three Black Crows’ heading down is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | 0.89469 |
2nd High | 0.89371 |
Next High | 0.89273 |
Current Price | 0.88654 |
Next Low | 0.88549 |
2nd Low | 0.88203 |
3rd Low | 0.87970 |
0.89273 – 0.88819 – 0.88734 – 0.88549 – 0.88203 – 0.88297
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows