AUD/CAD – 30M – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline down.
A descent downwards to the next support line at 0.89664 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.90423 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Outside Down’ candlestick pattern is discovered. The candles show ‘Three Outside Down’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.9112 |
| 2nd High | 0.90446 |
| Next High | 0.90423 |
| Current Price | 0.90068 |
| Next Low | 0.89664 |
| 2nd Low | 0.89622 |
| 3rd Low | 0.89514 |
0.8998 – 0.8994 – 0.89877 – 0.89664 – 0.89665 – 0.89622 — 38.105163892234 – 36.542609786247 — 38.054940269968 – 33.06400924037 – 35.646227933763 – 37.531498005515
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Down – Triple bottom chart pattern – –