AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline up.
An ascending movement upwards to the next resistance level at 0.89987 is expected.
Caution: A possible counter-trend in the direction of the support level at 0.89668 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Three White Soldiers’ candlestick pattern is found. The candles form ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90009 |
| Next High | 0.89987 |
| Current Price | 0.89997 |
| Next Low | 0.89668 |
| 2nd Low | 0.89550 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers