AUD/CAD – 30M – BUY

The currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline up.

The bullish trend up to the next resistance at 0.89793 is certain.

Caution: A possible trend reversal in the direction of the support level at is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is discovered. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a positive chart scenario. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Current target is 0.89971268 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.89793 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Northern Doji’ candle chart pattern is found. The chart forms ‘Northern Doji’. 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 ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

0.89793 – 0.90275 – 0.90108 – 0.89532 – 0.89061 – 0.88988 — 44.837950770965 – 49.603431739486 — 24.749807755809 – 53.007088954951 – 18.884777896359 – 27.661615058195

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji – – –