AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline down.
A descent downwards to the next support line at is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.89899 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish SBS White Lines’ candle chart pattern is detected. The candles form ‘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 | 0.90785 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89252 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish SBS White Lines