AUD/CAD – 30M – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline downwards
A bearish descent down to the next support level at is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.89837 is within the realm of possibility.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish SBS White Lines’ candle chart pattern is detected. The candles form ‘Bearish SBS White Lines’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90032 |
| Next High | 0.89837 |
| Current Price | 0.89523 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish SBS White Lines