AUD/CAD – 1H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline upwards
A bullish movement upwards to the next resistance line at 0.89899 will persist.
Caution: A possible trend reversal in the direction of the support level at is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish SBS White Lines’ chart pattern is discovered. The candles form ‘Bearish SBS White Lines’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89397 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish SBS White Lines