AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the ascending trendline downwards
A bearish trend down to the next support line at 0.90079 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.91347 could be enabled.
Consider stop-loss settings accordingly.
Additionally a ‘Bullish Engulfing’ candle chart pattern is discovered. The chart forms ‘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 likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91347 |
| Current Price | 0.90651 |
| Next Low | 0.90079 |
| 2nd Low | 0.90002 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Engulfing