AUD/CAD – 1H – SELL

The combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline down.

A bearish movement down to the next support level at 0.96418 is certain.

Caution: A possible trend reversal in the direction of the resistance line at 0.96899 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three Outside Down’ candle pattern is detected. The chart forms ‘Three Outside Down’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.96899 – 0.97065 – 0.96838 – 0.96418 – 0.96521 – 0.96605 —
0.96743 – 0.97306 —
50.328727565737 – 74.366450852759 —
– —
0.96899 – 1771923600

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Down – Double bottom retreat down – – – – – – – –