AUD/CAD – 4H – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the descending trendline down.
A continuation of the downward movement downwards to the next support level at 0.90079 will persist.
Caution: A possible change in the direction of the resistance level at 0.91378 should always be considered.
Consider stop-loss settings accordingly.
Then a ‘Matching Low’ candlestick pattern is detected. The candles form ‘Matching Low’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.92703 |
| 2nd High | 0.91641 |
| Next High | 0.91378 |
| Current Price | 0.90651 |
| Next Low | 0.90079 |
| 2nd Low | 0.90002 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low