AUD/CAD – 1H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bearish trendline up.
An ascent up to the next resistance at 0.89932 is likely expected.
Caution: A possible change in the direction of the support zone at 0.89167 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bullish Belt Hold’ candlestick chart pattern is discovered. The candles show ‘Bullish Belt Hold’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90173 |
| Next High | 0.89932 |
| Current Price | 0.89298 |
| Next Low | 0.89167 |
| 2nd Low | 0.88881 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Belt Hold