AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bearish trendline down.
A continuation of the downward movement downwards to the next support at 0.90079 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.90701 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Matching Low’ candlestick chart pattern is discovered. The candles show ‘Matching Low’. this is a bullish 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 | 0.91378 |
| 2nd High | 0.91243 |
| Next High | 0.90701 |
| Current Price | 0.90320 |
| Next Low | 0.90079 |
| 2nd Low | 0.90002 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low