AUD/CAD – 1H – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline downwards
A descent downwards to the next support level at 0.89241 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.89667 could occur.
Consider stop-loss settings accordingly.
There is also a ‘Shooting Star’ candle pattern is discovered. The chart shows ‘Shooting Star’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90110 |
| 2nd High | 0.89671 |
| Next High | 0.89667 |
| Current Price | 0.89751 |
| 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 – Shooting Star –