AUD/CAD – 30M – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline down.
A descending movement downwards to the next support at is likely expected.
Caution: A possible change in the direction of resistance at 0.89837 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish SBS White Lines’ candle pattern is detected. The chart shows ‘Bearish SBS White Lines’. which is a negative pattern signal. The pair is likely to go down. 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 | 0.89523 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish SBS White Lines