AUD/CAD – 30M – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline upwards
The bullish trend up to the next resistance at 0.88901 is considered certain.
Caution: A possible trend reversal in the direction of the support zone at 0.88732 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Two-Candle Shooting Star’ candlestick pattern is detected. The chart shows ‘Two-Candle Shooting Star’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two-Candle Shooting Star’ heading down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89334 |
| 2nd High | 0.89129 |
| Next High | 0.88901 |
| Current Price | 0.88887 |
| Next Low | 0.88732 |
| 2nd Low | 0.88645 |
| 3rd Low | 0.88541 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Two-Candle Shooting Star