AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline up.
The bullish trend up to the next resistance level at 0.89938 will persist.
Caution: A possible counter-trend in the direction of support at 0.89674 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Outside Up’ candlestick pattern is existing. The chart forms ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90009 |
| Next High | 0.89938 |
| Current Price | 0.89841 |
| Next Low | 0.89674 |
| 2nd Low | 0.89623 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Up