AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline upwards
An ascending movement upwards to the next resistance level at 0.90748 is expected.
Caution: A possible change in the direction of the support line at 0.90389 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Outside Up’ candle pattern is found. The chart shows ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91347 |
| 2nd High | 0.90868 |
| Next High | 0.90748 |
| Current Price | 0.90752 |
| Next Low | 0.90389 |
| 2nd Low | 0.90340 |
| 3rd Low | 0.89830 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Up