AUD/CAD – 1H – SELL

The currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline downwards

A descent downwards to the next support level at 0.89216 will persist.

Caution: A possible counter-trend in the direction of the resistance zone at 0.89608 is within the realm of possibility.
Consider stop-loss settings accordingly.

In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart scenario. The currency pair is likely to fall.

In addition a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. which could be a negative signal. The pair is likely to go down.

In addition a ‘Three Black Crows’ candle chart pattern is discovered. The candles show ‘Three Black Crows’. this is a bearish chart scenario. The currency 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’ heading down is 82%.

0.89608 – 0.89306 – 0.89329 – 0.89216 – 0.89080 – 0.88940

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Black Crows – Double bottom retreat down