AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline downwards
A descent downwards to the next support at 0.90002 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.91347 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bearish SBS White Lines’ candlestick chart pattern is detected. The candles show ‘Bearish SBS White Lines’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91347 |
| Current Price | 0.90071 |
| Next Low | 0.90002 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish SBS White Lines