AUD/CAD – 30M – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the ascending trendline down.
A descending movement down to the next support level at 0.89394 is certain.
Caution: A possible change in the direction of resistance at 0.90173 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Tweezers Top’ candle pattern is found. The candles form ‘Tweezers Top’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90517 |
| Next High | 0.90173 |
| Current Price | 0.89684 |
| Next Low | 0.89394 |
| 2nd Low | 0.89298 |
| 3rd Low | 0.89215 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Tweezers Top