AUD/CAD – 30M – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline downwards
The bearish trend downwards to the next support line at 0.89524 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.89837 should always be considered.
Consider stop-loss settings accordingly.
Next a ‘Bearish SBS White Lines’ chart pattern is found. The candles show ‘Bearish SBS White Lines’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90032 |
| Next High | 0.89837 |
| Current Price | 0.89579 |
| Next Low | 0.89524 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish SBS White Lines