AUD/CAD – 1H – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline upwards
An ascent up to the next resistance line at 0.8998 is expected.
Caution: A possible reversal of the trend in the direction of the support zone at 0.89664 could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a positive signal. The currency pair is likely to rise.
Moreover a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bullish chart signal. The currency pair could go up.
Moreover a ‘Northern Doji’ candlestick chart pattern is existing. The candles show ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90275 |
| 2nd High | 0.90032 |
| Next High | 0.8998 |
| Current Price | 0.90042 |
| Next Low | 0.89664 |
| 2nd Low | 0.89514 |
| 3rd Low | 0.89029 |
0.8998 – 0.89877 – 0.89838 – 0.89664 – 0.89514 – 0.89666 — 57.026866540654 – 60.309586484906 — 39.347818094923 – 66.666666666667 – 43.963633998584 – 46.835457297547
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji – Triple bottom chart pattern – –