AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline down.
A bearish movement down to the next support line at 0.89241 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 0.89667 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Northern Doji’ candlestick chart pattern is discovered. The chart shows ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90110 |
| 2nd High | 0.89671 |
| Next High | 0.89667 |
| Current Price | 0.89701 |
| Next Low | 0.89241 |
| 2nd Low | 0.89210 |
| 3rd Low | 0.89051 |
0.89667 – 0.89607 – 0.89452 – 0.89241 – 0.89210 – 0.89051
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji – Rising Wedge Chart Pattern