AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the descending trendline down.
A continuation of the bearish trend downwards to the next support level at 0.91061 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 0.91378 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Matching Low’ candlestick pattern is found. The chart forms ‘Matching Low’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91747 |
| 2nd High | 0.91641 |
| Next High | 0.91378 |
| Current Price | 0.90791 |
| Next Low | 0.91061 |
| 2nd Low | 0.91032 |
| 3rd Low | 0.90939 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low