AUD/CAD – 30M – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline downwards
A bearish movement down to the next support level at 0.90710 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 0.91016 is within the realm of possibility.
Consider stop-loss settings accordingly.
And also a ‘Evening Star’ candle chart pattern is existing. The candles form ‘Evening Star’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91016 |
| Current Price | 0.90852 |
| Next Low | 0.90710 |
| 2nd Low | 0.90681 |
| 3rd Low | 0.90494 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Evening Star