AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bearish trendline upwards
A bullish movement upwards to the next resistance line at 0.90785 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 0.89830 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bullish Engulfing’ chart pattern is existing. The chart shows ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90868 |
| 2nd High | 0.90789 |
| Next High | 0.90785 |
| Current Price | 0.90328 |
| Next Low | 0.89830 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Engulfing