AUD/CAD – 30M – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support level at is likely expected.
Caution: A possible counter-trend in the direction of resistance at 0.89334 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Tweezers Top’ chart pattern is existing. The chart forms ‘Tweezers Top’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89603 |
| 2nd High | 0.89422 |
| Next High | 0.89334 |
| Current Price | 0.88774 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Tweezers Top