AUD/CAD – 30M – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline upwards
A bullish ascent upwards to the next resistance level at 0.91139 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 0.90776 could be enabled.
Consider stop-loss settings accordingly.
Besides a ‘Bullish Engulfing’ candle chart pattern is discovered. The candles form ‘Bullish Engulfing’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91139 |
| Current Price | 0.91059 |
| Next Low | 0.90776 |
| 2nd Low | 0.90710 |
| 3rd Low | 0.90681 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Engulfing