AUD/CAD – 1H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline downwards
The bearish trend down to the next support at 0.88881 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.89714 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bullish Belt Hold’ candle pattern is detected. The candles show ‘Bullish Belt Hold’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90032 |
| 2nd High | 0.89899 |
| Next High | 0.89714 |
| Current Price | 0.89465 |
| Next Low | 0.88881 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Belt Hold