AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline down.
A bearish trend downwards to the next support level at 0.90439 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 0.91243 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Evening Star’ candlestick pattern is found. The candles show ‘Evening Star’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91243 |
| Current Price | 0.90526 |
| Next Low | 0.90439 |
| 2nd Low | 0.90384 |
| 3rd Low | 0.90186 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Evening Star