AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the ascending trendline downwards
A bearish descent downwards to the next support level at 0.89394 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.89932 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Gapping Down Doji’ chart pattern is found. The chart shows ‘Gapping Down Doji’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Gapping Down Doji’ heading down is 57% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90173 |
| Next High | 0.89932 |
| Current Price | 0.89508 |
| Next Low | 0.89394 |
| 2nd Low | 0.89298 |
| 3rd Low | 0.89215 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Gapping Down Doji