AUD/CAD – 4H – BUY

The combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the ascending trendline up.

A continuation of the upward movement upwards to the next resistance level at 0.89608 will persist.

Caution: A possible trend reversal in the direction of the support level at 0.89051 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. this is usually a bullish chart signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will persist. Target of the current trend is 0.89608 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at 0.89608 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Northern Doji’ candle pattern is discovered. The chart forms ‘Northern Doji’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

0.89608 – 0.89273 – 0.89469 – 0.89051 – 0.87897 – 0.87970

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji – Double bottom chart pattern