AUD/CAD – 30M – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support line at 0.89518 is expected.
Caution: A possible change in the direction of the resistance level at 0.90004 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Collapsing Doji Star’ chart pattern is detected. The chart forms ‘Collapsing Doji Star’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Collapsing Doji Star’ going down is 63% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90032 |
| Next High | 0.90004 |
| Current Price | 0.89650 |
| Next Low | 0.89518 |
| 2nd Low | 0.89298 |
| 3rd Low | 0.89215 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Collapsing Doji Star