AUD/CAD – 30M – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline downwards
A descending movement down to the next support at 0.88654 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 0.88999 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Southern Doji’ chart pattern is found. The candles show ‘Southern Doji’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).
Furthermore a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. this is usually a bearish chart signal. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90446 |
| 2nd High | 0.89829 |
| Next High | 0.88999 |
| Current Price | 0.88878 |
| Next Low | 0.88654 |
| 2nd Low | 0.87991 |
| 3rd Low | 0.87890 |
0.88922 – 0.88999 – 0.88719 – 0.88654 – 0.87991 – 0.87890
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Southern Doji