AUD/CAD – 1H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline up.
A continuation of the bullish trend upwards to the next resistance line at 0.88581 is expected.
Caution: A possible counter-trend in the direction of support at 0.87954 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive signal. The pair is likely to go up.
Besides a ‘Northern Doji’ chart pattern is discovered. The candles form ‘Northern Doji’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Besides a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. which is often a bullish chart scenario. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88787 |
| 2nd High | 0.88740 |
| Next High | 0.88581 |
| Current Price | 0.88448 |
| Next Low | 0.87954 |
| 2nd Low | 0.86205 |
| 3rd Low | 0.84402 |
0.88581 – 0.88740 – 0.88787 – 0.87954 – 0.88249 – 0.86205
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji