AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline upwards
An ascending movement upwards to the next resistance line at 0.96598 is certain.
Caution: A possible trend reversal in the direction of the support level at 0.95856 should always be considered.
Consider stop-loss settings accordingly.
Besides a ‘Bullish Belt Hold’ chart pattern is existing. The candles form ‘Bullish Belt Hold’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.97594 |
| 2nd High | 0.97102 |
| Next High | 0.96598 |
| Current Price | 0.96674 |
| Next Low | 0.95856 |
| 2nd Low | |
| 3rd Low |
0.96598 – 0.97102 – 0.97594 – 0.95856 – 0.96363 – 0.96637 —
0.95982 – 0.96343 —
18.790262287858 – 51.135980616958 —
0.95856 – 1773399600 —
0.96598 – 1773374400
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Belt Hold – – – – – – – – –