AUD/CAD – 4H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline downwards
A bearish trend downwards to the next support at 0.88881 will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 0.90173 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Southern Doji’ candlestick pattern is existing. The candles show ‘Southern Doji’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90868 |
| 2nd High | 0.90789 |
| Next High | 0.90173 |
| Current Price | 0.89137 |
| Next Low | 0.88881 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Southern Doji