AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline up.
A bullish trend upwards to the next resistance line at 0.89660 will continue.
Caution: A possible reversal of the trend in the direction of the support level at 0.89378 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three White Soldiers’ candlestick chart pattern is detected. The candles form ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89735 |
| 2nd High | 0.89722 |
| Next High | 0.89660 |
| Current Price | 0.89715 |
| Next Low | 0.89378 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers