AUD/CAD – 30M – BUYThen a ‘Inverse Head and Shoulder chart pattern’ chart formation is detected. The chart picture shows ‘Inverse Head and Shoulder chart pattern’. which is a positive pattern signal. The currency pair is likely to go up.
Then a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. this is usually a bullish chart scenario. The pair is likely to go up.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Target of the current trend is 0.9308848 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 0.92956 should be noted.
Consider stop-loss settings accordingly.
Then a ‘Bullish Belt Hold’ candle pattern is found. The chart forms ‘Bullish Belt Hold’. this is a bullish pattern signal. The 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 | 0.93223 |
| 2nd High | 0.93057 |
| Next High | 0.92956 |
| Current Price | 0.93012 |
| Next Low | 0.92752 |
| 2nd Low | 0.92653 |
| 3rd Low | 0.92418 |
0.92956 – 0.92925 – 0.93057 – 0.92752 – 0.92653 – 0.92838 —
0.92953 – 0.93064 —
67.155082543896 – 70.977854787262 —
– —
0.92956 – 1767972600
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Belt Hold – Inverse Head and Shoulder chart pattern – – – – – – – –