AUD/CAD – 4H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at is likely expected.
Caution: A possible change in the direction of the resistance line at 0.88999 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative chart signal. The pair is likely to go down.
Moreover a ‘Matching Low’ candle pattern is found. The chart forms ‘Matching Low’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91293 |
| 2nd High | 0.90446 |
| Next High | 0.88999 |
| Current Price | 0.88459 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.88999 – 0.88787 – 0.90446 – 0.87890 – 0.87954 – 0.84402
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low