AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the ascending trendline downwards
A bearish trend downwards to the next support line at 0.89731 is likely expected.
Caution: A possible change in the direction of the resistance level at 0.89938 is also possible.
Consider stop-loss settings accordingly.
And also a ‘Tweezers Bottom’ candlestick chart pattern is existing. The chart forms ‘Tweezers Bottom’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Bottom’ heading up is 52% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90009 |
| Next High | 0.89938 |
| Current Price | 0.89775 |
| Next Low | 0.89731 |
| 2nd Low | 0.89623 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Tweezers Bottom