The currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline downwards
A descent down to the next support level at is certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.89837 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish SBS White Lines’ candle chart pattern is existing. The chart forms ‘Bearish SBS White Lines’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance 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