AUD/CAD – 30M – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bearish trendline down.
A continuation of the bearish trend down to the next support line at 0.88988 is expected.
Caution: A possible trend reversal in the direction of resistance at 0.89302 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Two Crows’ chart pattern is discovered. The candles form ‘Two Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89821 |
| 2nd High | 0.89454 |
| Next High | 0.89302 |
| Current Price | 0.89086 |
| Next Low | 0.88988 |
| 2nd Low | 0.88940 |
| 3rd Low | 0.87897 |
0.89302 – 0.89454 – 0.89821 – 0.88988 – 0.89009 – 0.89239