AUD/CAD – 1H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline up.
An ascent up to the next resistance level at 0.91168 will persist.
Caution: A possible trend reversal in the direction of the support level at 0.90704 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candle chart pattern is discovered. The candles form ‘Three White Soldiers’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91611 |
| 2nd High | 0.91208 |
| Next High | 0.91168 |
| Current Price | 0.91141 |
| Next Low | 0.90704 |
| 2nd Low | 0.90439 |
| 3rd Low | 0.90384 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers