AUD/CAD – 1H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the descending trendline down.
A continuation of the bearish trend down to the next support level at 0.89664 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.90275 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Northern Doji’ candle chart pattern is existing. The chart shows ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90446 |
| 2nd High | 0.90423 |
| Next High | 0.90275 |
| Current Price | 0.89567 |
| Next Low | 0.89664 |
| 2nd Low | 0.89514 |
| 3rd Low | 0.89029 |
0.89877 – 0.89838 – 0.89938 – 0.89664 – 0.89514 – 0.89666 — 36.606074457948 – 29.190289417881 — 23.922939291807 – 22.192818208297 – 18.69530199647 – 21.802470066461
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji – Double bottom retreat down – –