AUD/CAD – 4H – SELL

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

The bearish trend down to the next support at 0.89051 is likely expected.

Caution: A possible change in the direction of resistance at 0.89821 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Three Outside Down’ chart pattern is existing. The chart forms ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

0.89821 – 0.89608 – 0.89273 – 0.89051 – 0.87897 – 0.87970 — 63.514602403767 – 62.90738352378 — 92.035003396911 – 83.459576754986 – 87.080685112592 – 91.831526717299

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Down – Triple top chart pattern – –