Buy AUD/CAD – 30M – BUY

The combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the descending trendline down.

A continuation of the downtrend downwards to the next support at 0.88807 will persist.

Caution: A possible reversal of the trend in the direction of the resistance level at 0.89308 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Last Engulfing Top’ candlestick pattern is existing. The candles form ‘Last Engulfing Top’. which is a negative pattern 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 ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).

Support & Resistance Price Range*
3rd High 0.89829
2nd High 0.89718
Next High 0.89308
Current Price 0.89079
Next Low 0.88807
2nd Low 0.88790
3rd Low 0.88001

0.89308 – 0.89301 – 0.89718 – 0.88807 – 0.88833 – 0.88790

Download AUD/CAD Signal Image

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