AUD/CAD – 4H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline down.
A descending movement downwards to the next support at is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.90789 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Matching Low’ candle pattern is detected. The candles show ‘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 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 | 0.89523 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low