AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the descending trendline down.
A continuation of the bearish trend down to the next support line at 0.89524 is expected.
Caution: A possible change in the direction of resistance at 0.89837 could happen.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Target of the current trend is 0.89643888 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of resistance at 0.89837 could happen.
Consider stop-loss settings accordingly.
Additionally a ‘Three White Soldiers’ candlestick pattern is found. The chart shows ‘Three White Soldiers’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90032 |
| Next High | 0.89837 |
| Current Price | 0.89596 |
| Next Low | 0.89524 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers