AUD/CAD – 4H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline down.
A bearish trend downwards to the next support line at 0.88881 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.89899 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Tweezers Top’ candlestick chart pattern is discovered. The candles form ‘Tweezers Top’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90789 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89832 |
| Next Low | 0.88881 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Tweezers Top