AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline down.
A bearish movement down to the next support at 0.90513 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.91347 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Matching Low’ candlestick pattern is found. The chart shows ‘Matching Low’. which is a positive signal. The currency pair is likely to go up. 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 | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91347 |
| Current Price | 0.90547 |
| Next Low | 0.90513 |
| 2nd Low | 0.90386 |
| 3rd Low | 0.90079 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low