AUD/CAD – 4H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 0.90032 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Matching Low’ chart pattern is found. The chart shows ‘Matching Low’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90868 |
| 2nd High | 0.90789 |
| Next High | 0.90032 |
| Current Price | 0.89252 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low