AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 0.89378 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.89899 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.89378 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support line at 0.89899 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Matching Low’ candle pattern is detected. The chart shows ‘Matching Low’. which is a bullish pattern 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’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89411 |
| Next Low | 0.89378 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low