AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline up.
An ascending movement upwards to the next resistance level at 0.91347 will persist.
Caution: A possible change in the direction of the support level at 0.90513 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Three White Soldiers’ candle chart pattern is discovered. The candles form ‘Three White Soldiers’. which is a positive chart scenario. The 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 | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91347 |
| Current Price | 0.90426 |
| Next Low | 0.90513 |
| 2nd Low | 0.90079 |
| 3rd Low | 0.90002 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers