AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline upwards
A bullish trend upwards to the next resistance at 0.89899 is likely expected.
Caution: A possible change in the direction of the support line at 0.89517 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bullish Engulfing’ candlestick pattern is detected. The candles form ‘Bullish Engulfing’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89626 |
| Next Low | 0.89517 |
| 2nd Low | 0.89378 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Engulfing