AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline down.
A bearish movement down to the next support level at 0.89623 is considered certain.
Caution: A possible change in the direction of the resistance level at 0.89893 could be enabled.
Consider stop-loss settings accordingly.
Besides a ‘Bullish Engulfing’ chart pattern is discovered. The chart shows ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to go up. 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 | 0.90785 |
| 2nd High | 0.90009 |
| Next High | 0.89893 |
| Current Price | 0.89739 |
| Next Low | 0.89623 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Engulfing