AUD/CAD – 30M – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance level at 0.91611 is likely expected.
Caution: A possible trend reversal in the direction of the support level at 0.90865 could occur.
Consider stop-loss settings accordingly.
In addition a ‘Three White Soldiers’ candlestick pattern is detected. The candles form ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91821 |
| 2nd High | 0.91747 |
| Next High | 0.91611 |
| Current Price | 0.91315 |
| Next Low | 0.90865 |
| 2nd Low | 0.90704 |
| 3rd Low | 0.90494 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers