AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bearish trendline downwards
A continuation of the downward movement downwards to the next support at 0.90079 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.91347 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three White Soldiers’ candle pattern is detected. The chart forms ‘Three White Soldiers’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91347 |
| Current Price | 0.90114 |
| Next Low | 0.90079 |
| 2nd Low | 0.90002 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers