AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline downwards
A bearish movement downwards to the next support at 0.89066 is likely expected.
Caution: A possible change in the direction of the resistance level at 0.89932 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Bearish Belt Hold’ candlestick chart pattern is discovered. The chart forms ‘Bearish Belt Hold’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90173 |
| Next High | 0.89932 |
| Current Price | 0.89157 |
| Next Low | 0.89066 |
| 2nd Low | 0.88881 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Belt Hold