AUD/CAD – 4H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline downwards
A bearish descent downwards to the next support line at is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.90032 should be noted.
Consider stop-loss settings accordingly.
Besides a ‘Bullish Belt Hold’ chart pattern is found. The chart forms ‘Bullish Belt Hold’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90868 |
| 2nd High | 0.90789 |
| Next High | 0.90032 |
| Current Price | 0.89722 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Belt Hold