AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline up.
The bullish trend up to the next resistance line at 0.89735 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 0.89565 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Outside Up’ candle pattern is detected. The candles show ‘Three Outside Up’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90032 |
| 2nd High | 0.89837 |
| Next High | 0.89735 |
| Current Price | 0.89647 |
| Next Low | 0.89565 |
| 2nd Low | 0.89413 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Up