AUD/CAD – 30M – BUYCorrection of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Current target is 0.90436086 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support line at 0.90789 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Matching Low’ candle chart pattern is existing. The candles show ‘Matching Low’. which is a bullish signal. The 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 | 0.91347 |
| 2nd High | 0.90868 |
| Next High | 0.90789 |
| Current Price | 0.90542 |
| Next Low | 0.90389 |
| 2nd Low | 0.90340 |
| 3rd Low | 0.89830 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low