AUD/CAD – 30M – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the descending trendline downwards
A continuation of the downtrend down to the next support level at 0.90210 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.90525 should be noted.
Consider stop-loss settings accordingly.
Besides a ‘Matching Low’ candle chart pattern is discovered. The chart forms ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91243 |
| 2nd High | 0.90701 |
| Next High | 0.90525 |
| Current Price | 0.90421 |
| Next Low | 0.90210 |
| 2nd Low | 0.90002 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low