AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline downwards
A descent downwards to the next support level at will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.89899 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Below The Stomach’ chart pattern is detected. The candles form ‘Below The Stomach’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Below The Stomach’ going down is 60% (Bull Market) & 65% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89040 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Below The Stomach