AUD/CAD – 4H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the descending trendline downwards
A continuation of the downtrend down to the next support line at is likely expected.
Caution: A possible change in the direction of the resistance level at 0.89899 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Matching Low’ candle chart pattern is existing. The chart shows ‘Matching Low’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90789 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.88968 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low