AUD/CAD – 1H – BUYThen a ‘Double bottom chart pattern’ chart layout is discovered. The formation shows ‘Double bottom chart pattern’. which is a positive pattern signal. The pair is likely to go up.
The combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline up.
A bullish movement up to the next resistance at 0.89877 is certain.
Caution: A possible trend reversal in the direction of the support level at 0.89664 should be noted.
Consider stop-loss settings accordingly.
Then a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. which is often a bullish chart signal. 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. Target of the current trend is 0.89837936 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of resistance at 0.89877 should be noted.
Consider stop-loss settings accordingly.
Then a ‘Northern Doji’ candlestick chart pattern is found. The candles form ‘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 probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90032 |
| 2nd High | 0.89938 |
| Next High | 0.89877 |
| Current Price | 0.89966 |
| Next Low | 0.89664 |
| 2nd Low | 0.89514 |
| 3rd Low | 0.89029 |
0.89877 – 0.89838 – 0.89938 – 0.89664 – 0.89514 – 0.89666 — 42.783493730182 – 54.382730763275 — 36.582092490222 – 58.930880126779 – 27.590324905924 – 39.248118059473
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji – Double bottom chart pattern – –