AUD/CAD – 1H – SELL

The combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the ascending trendline downwards

A bearish descent down to the next support at 0.96116 will continue.

Caution: A possible trend reversal in the direction of the resistance level at 0.96838 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘StochRSI %K line crosses below %D line’ indicator signal is discovered. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative chart scenario. The pair is likely to go down.

Next a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which is often a bearish chart signal. The pair is likely to go down.

Next a ‘Tweezers Top’ chart pattern is discovered. The chart forms ‘Tweezers Top’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).

0.96838 – 0.96699 – 0.96678 – 0.96116 – 0.96313 – 0.96352 —
0.96589 – 0.96925 —
56.047491838788 – 66.835769296298 —
– —
0.96838 – 1771495200

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Tweezers Top – Rising Wedge Chart Pattern – – – – – – – –