AUD/CAD – 4H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline up.
A bullish trend up to the next resistance line at 0.89899 is likely expected.
Caution: A possible trend reversal in the direction of the support level at is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three Outside Up’ chart pattern is detected. The chart forms ‘Three Outside Up’. 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 likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90789 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89361 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Up