AUD/CAD – 4H – SELL

The currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline downwards

A descending movement down to the next support at 0.89051 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 0.89821 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Northern Doji’ candlestick pattern is detected. The chart shows ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

0.89821 – 0.89608 – 0.89273 – 0.89051 – 0.87897 – 0.87970 — 70.954349910509 – 66.101871240667 — 100 – 95.064545242514 – 70.713197836248 – 88.081403392026

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji – Triple top chart pattern – –