AUD/CAD – 30M – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support at 0.90079 will persist.
Caution: A possible change in the direction of resistance at 0.91347 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Current target is 0.90079 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the support zone at 0.91347 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Matching Low’ chart pattern is existing. The candles form ‘Matching Low’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91347 |
| Current Price | 0.90226 |
| Next Low | 0.90079 |
| 2nd Low | 0.90002 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low