AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline upwards
An ascending movement up to the next resistance level at 0.89722 is expected.
Caution: A possible counter-trend in the direction of the support zone at 0.89378 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish SBS White Lines’ candlestick chart pattern is detected. The chart forms ‘Bearish SBS White Lines’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89837 |
| 2nd High | 0.89735 |
| Next High | 0.89722 |
| Current Price | 0.89715 |
| Next Low | 0.89378 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish SBS White Lines