AUD/CAD – 30M – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline downwards
A bearish trend down to the next support level at 0.90178 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 0.90461 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bullish Harami’ candle pattern is existing. The candles form ‘Bullish Harami’. 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 chance of ‘Bullish Harami’ going up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91378 |
| 2nd High | 0.91347 |
| Next High | 0.90461 |
| Current Price | 0.90252 |
| Next Low | 0.90178 |
| 2nd Low | 0.90079 |
| 3rd Low | 0.90002 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Harami