The pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline downwards
A bearish trend downwards to the next support at 0.88881 is certain.
Caution: A possible trend reversal in the direction of resistance at 0.89411 could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Southern Doji’ candle pattern is detected. The candles form ‘Southern Doji’. this 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 ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 0.90032 |
2nd High | 0.89899 |
Next High | 0.89411 |
Current Price | 0.89312 |
Next Low | 0.88881 |
2nd Low | |
3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Southern Doji