AUD/CAD – 1H – BUYCorrection of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Target of the current trend is 0.89681148 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance zone at 0.89899 should be noted.
Consider stop-loss settings accordingly.
Additionally a ‘Three White Soldiers’ candle chart pattern is detected. The chart forms ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89608 |
| Next Low | 0.88881 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers