AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bullish trendline down.
A descending movement down to the next support at 0.90137 is considered certain.
Caution: A possible change in the direction of the resistance zone at 0.90525 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Inside Up’ candle pattern is existing. The chart shows ‘Three Inside Up’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Inside Up’ heading up is 65% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91243 |
| 2nd High | 0.90701 |
| Next High | 0.90525 |
| Current Price | 0.90238 |
| Next Low | 0.90137 |
| 2nd Low | 0.90002 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Inside Up