AUD/CAD – 1H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bearish trendline upwards
An ascent up to the next resistance line at 0.89735 is expected.
Caution: A possible change in the direction of support at 0.89413 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bullish Engulfing’ candlestick pattern is found. The chart forms ‘Bullish Engulfing’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90032 |
| 2nd High | 0.89837 |
| Next High | 0.89735 |
| Current Price | 0.89660 |
| Next Low | 0.89413 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Engulfing