AUD/CAD – 30M – BUYNext a ‘Inverted Hammer’ candle pattern is detected. The candles show ‘Inverted Hammer’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Inverted Hammer’ heading up is 65% (Bull Market).
Next a ‘Double top chart pattern’ chart layout is existing. The chart picture forms ‘Double top chart pattern’. which is a negative signal. The currency pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91120 |
| 2nd High | 0.90446 |
| Next High | 0.89829 |
| Current Price | 0.89129 |
| Next Low | 0.88962 |
| 2nd Low | |
| 3rd Low |
0.89829 – 0.90446 – 0.90336 – 0.89265 – 0.88962 – 0.89657
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Inverted Hammer