AUD/CAD – 1H – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline up.
A bullish movement up to the next resistance at 0.90748 is considered certain.
Caution: A possible counter-trend in the direction of the support line at 0.90340 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Current target is 0.91022362 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance line at 0.90748 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three White Soldiers’ candlestick pattern is detected. The chart shows ‘Three White Soldiers’. which is a positive signal. 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 | 0.91347 |
| 2nd High | 0.90868 |
| Next High | 0.90748 |
| Current Price | 0.90627 |
| Next Low | 0.90340 |
| 2nd Low | 0.89830 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers