AUD/CAD – 1H – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bearish trendline downwards
A continuation of the downward movement downwards to the next support at 0.89215 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.89714 should always be considered.
Consider stop-loss settings accordingly.
And also a ‘Southern Doji’ candlestick chart pattern is existing. The candles show ‘Southern Doji’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90032 |
| 2nd High | 0.89899 |
| Next High | 0.89714 |
| Current Price | 0.89474 |
| Next Low | 0.89215 |
| 2nd Low | 0.88881 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Southern Doji