AUD/CAD – 1H – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline down.
A descent down to the next support line at 0.90939 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.91641 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Current target is 0.91452038 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 0.91641 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three White Soldiers’ chart pattern is discovered. The chart shows ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.92703 |
| 2nd High | 0.91821 |
| Next High | 0.91641 |
| Current Price | 0.91344 |
| Next Low | 0.90939 |
| 2nd Low | 0.90858 |
| 3rd Low | 0.90758 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers