AUD/CAD – 4H – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline down.
A bearish trend down to the next support line at is certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.90789 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.8983 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.90789 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Matching Low’ candlestick chart pattern is existing. The chart forms ‘Matching Low’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91347 |
| 2nd High | 0.90868 |
| Next High | 0.90789 |
| Current Price | 0.89643 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low