AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline up.
A bullish ascent upwards to the next resistance line at 0.89932 will continue.
Caution: A possible trend reversal in the direction of support at 0.88880 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 0.895265 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.89932 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Harami Cross’ chart pattern is detected. The chart shows ‘Bearish Harami Cross’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami Cross’ heading down is 57% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90173 |
| Next High | 0.89932 |
| Current Price | 0.89280 |
| Next Low | 0.88880 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Harami Cross