AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support level at 0.88203 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 0.89273 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Matching Low’ candle pattern is detected. The chart shows ‘Matching Low’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89469 |
| 2nd High | 0.89371 |
| Next High | 0.89273 |
| Current Price | 0.88631 |
| Next Low | 0.88203 |
| 2nd Low | 0.87970 |
| 3rd Low | 0.87890 |
0.89273 – 0.88819 – 0.88734 – 0.88203 – 0.88297 – 0.87970
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low