AUD/CAD – 4H – BUYCorrection of the major bearish trend broke the Fibonacci 0-Level.Continuation of the current ascending trend will persist. Current target is 0.90195328 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 0.90789 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Outside Up’ candlestick chart pattern is existing. The chart shows ‘Three Outside Up’. which 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 ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91347 |
| 2nd High | 0.90868 |
| Next High | 0.90789 |
| Current Price | 0.89931 |
| Next Low | 0.89830 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Up