AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bearish trendline down.
A continuation of the downtrend downwards to the next support level at 0.90710 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.91378 is within the realm of possibility.
Consider stop-loss settings accordingly.
And also a ‘Matching Low’ candle pattern is discovered. The chart forms ‘Matching Low’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91821 |
| 2nd High | 0.91641 |
| Next High | 0.91378 |
| Current Price | 0.91057 |
| Next Low | 0.90710 |
| 2nd Low | 0.90681 |
| 3rd Low | 0.90439 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low