AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline upwards
A bullish movement upwards to the next resistance level at 0.91243 will continue.
Caution: A possible trend reversal in the direction of support at 0.90079 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Target of the current trend is 0.91083536 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of resistance at 0.91243 could occur.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three White Soldiers’ candlestick pattern is existing. The candles show ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91243 |
| Current Price | 0.91054 |
| Next Low | 0.90079 |
| 2nd Low | 0.90002 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers