AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline up.
The bullish trend upwards to the next resistance at 0.91114 is likely expected.
Caution: A possible counter-trend in the direction of support at 0.90858 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 0.91178964 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance zone at 0.91114 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three White Soldiers’ candlestick chart pattern is discovered. The candles show ‘Three White Soldiers’. which is a bullish pattern signal. 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’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91309 |
| 2nd High | 0.91187 |
| Next High | 0.91114 |
| Current Price | 0.91099 |
| Next Low | 0.90858 |
| 2nd Low | 0.90758 |
| 3rd Low | 0.90681 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers