AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the descending trendline upwards
A bullish movement up to the next resistance at 0.89722 will continue.
Caution: A possible trend reversal in the direction of the support level at 0.89511 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 will continue. Target of the current trend is 0.89559084 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance zone at 0.89722 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Outside Up’ candle pattern is discovered. The candles show ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89837 |
| 2nd High | 0.89735 |
| Next High | 0.89722 |
| Current Price | 0.89556 |
| Next Low | 0.89511 |
| 2nd Low | 0.89413 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Up