AUD/CAD – 4H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline upwards
An ascent upwards to the next resistance level at 0.89899 is considered certain.
Caution: A possible reversal of the trend in the direction of the support zone at 0.88881 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Outside Up’ candle pattern is discovered. The chart forms ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading 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 | 0.90022 |
| Next Low | 0.88881 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Up