AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline down.
A bearish trend downwards to the next support line at 0.89215 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.89932 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bullish Harami’ candle chart pattern is existing. The candles form ‘Bullish Harami’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Harami’ going up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90173 |
| Next High | 0.89932 |
| Current Price | 0.89284 |
| Next Low | 0.89215 |
| 2nd Low | 0.88881 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Harami