AUD/CAD – 1H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bullish trendline downwards
The bearish trend down to the next support line at 0.89394 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.90173 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Concealing Baby Swallow’ candlestick pattern is found. The candles form ‘Concealing Baby Swallow’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Concealing Baby Swallow’ heading down is 75% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90789 |
| 2nd High | 0.90785 |
| Next High | 0.90173 |
| Current Price | 0.89569 |
| Next Low | 0.89394 |
| 2nd Low | 0.89215 |
| 3rd Low | 0.88881 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Concealing Baby Swallow