AUD/CAD – 1H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline upwards
A bullish movement up to the next resistance line at 0.91388 will continue.
Caution: A possible change in the direction of the support zone at 0.90865 could happen.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bullish Engulfing’ chart pattern is existing. The candles form ‘Bullish Engulfing’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91821 |
| 2nd High | 0.91611 |
| Next High | 0.91388 |
| Current Price | 0.91127 |
| Next Low | 0.90865 |
| 2nd Low | 0.90704 |
| 3rd Low | 0.90439 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Engulfing