AUD/CAD – 1H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline downwards
A bearish trend down to the next support line at 0.90758 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 0.91378 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bullish Meeting Lines’ chart pattern is found. The chart forms ‘Bullish Meeting Lines’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Meeting Lines’ going up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91821 |
| 2nd High | 0.91641 |
| Next High | 0.91378 |
| Current Price | 0.90767 |
| Next Low | 0.90758 |
| 2nd Low | 0.90681 |
| 3rd Low | 0.90439 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Meeting Lines