AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bearish trendline downwards
A continuation of the downward movement down to the next support level at 0.88034 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.88970 could be enabled.
Consider stop-loss settings accordingly.
And also a ‘Northern Doji’ candle chart pattern is discovered. The chart shows ‘Northern Doji’. 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 ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89469 |
| 2nd High | 0.89371 |
| Next High | 0.88970 |
| Current Price | 0.88114 |
| Next Low | 0.88034 |
| 2nd Low | 0.88001 |
| 3rd Low | 0.87970 |
0.88970 – 0.89371 – 0.89469 – 0.88034 – 0.88543 – 0.88889
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji