AUD/CAD – 1H – BUYThe pair jumps from the descending trendline upwards
A bullish trend upwards to the next resistance at 0.91832 will continue.
Caution: A possible reversal of the trend in the direction of the support level at 0.91087 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 0.915795 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 0.91832 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
The chart formed a ‘Three White Soldiers’ candlestick pattern, which means 3 higher candles in a row.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.92510 |
| 2nd High | 0.92072 |
| Next High | 0.91832 |
| Current Price | 0.91416 |
| Next Low | 0.91087 |
| 2nd Low | 0.91044 |
| 3rd Low | 0.90955 |