AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline up.
An ascending movement upwards to the next resistance at 0.91347 will persist.
Caution: A possible change in the direction of the support level at 0.90513 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish SBS White Lines’ candlestick chart pattern is discovered. The candles form ‘Bearish SBS White Lines’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91347 |
| Current Price | 0.90280 |
| Next Low | 0.90513 |
| 2nd Low | 0.90079 |
| 3rd Low | 0.90002 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish SBS White Lines