AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline downwards
A descending movement downwards to the next support line at 0.87991 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.88986 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Below The Stomach’ chart pattern is found. The candles show ‘Below The Stomach’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Below The Stomach’ going down is 60% (Bull Market) & 65% (Bear Market).
And also a ‘Double top chart pattern’ chart formation is existing. The chart picture shows ‘Double top chart pattern’. which is a bearish chart scenario. The currency pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89829 |
| 2nd High | 0.88999 |
| Next High | 0.88986 |
| Current Price | 0.88582 |
| Next Low | 0.87991 |
| 2nd Low | 0.87890 |
| 3rd Low | 0.87639 |
0.88986 – 0.88922 – 0.88999 – 0.88654 – 0.87991 – 0.87890
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Below The Stomach