AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline up.
A continuation of the bullish trend 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 could happen.
Consider stop-loss settings accordingly.
Next a ‘Bullish Engulfing’ candle pattern is discovered. The candles show ‘Bullish Engulfing’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91347 |
| Current Price | 0.90656 |
| Next Low | 0.90513 |
| 2nd Low | 0.90386 |
| 3rd Low | 0.90079 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Engulfing