AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline up.
An ascent up to the next resistance line at 0.91347 is expected.
Caution: A possible reversal of the trend in the direction of the support line at 0.90386 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish SBS White Lines’ candlestick chart pattern is discovered. The chart forms ‘Bearish SBS White Lines’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91347 |
| Current Price | 0.90665 |
| Next Low | 0.90386 |
| 2nd Low | 0.90079 |
| 3rd Low | 0.90002 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish SBS White Lines