AUD/CAD – 30M – BUY

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

A bullish movement up to the next resistance line at 0.96202 is likely expected.

Caution: A possible change in the direction of the support line at 0.94618 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 0.956495 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance zone at 0.96202 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Bullish Belt Hold’ candlestick chart pattern is found. The chart shows ‘Bullish Belt Hold’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).

0.96202 – 0.96345 – 0.96614 – 0.94618 – 0.95278 – 0.95533 —
0.94918 – 0.95185 —
47.325487856404 – 57.540667664839 —
– —
0.96202 – 1772787600

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Belt Hold – – – – – – – – –