AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline downwards
A bearish trend downwards to the next support line at will continue.
Caution: A possible counter-trend in the direction of resistance at 0.88520 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 0.88139496 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 0.88520 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative chart scenario. The pair is likely to go down.
Additionally a ‘Matching Low’ candlestick pattern is existing. The candles show ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88740 |
| 2nd High | 0.88581 |
| Next High | 0.88520 |
| Current Price | 0.88282 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.88520 – 0.88581 – 0.88740 – 0.88215 – 0.87954 – 0.88249
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low