AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline downwards
A bearish trend downwards to the next support at 0.90178 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 0.91347 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will persist. Target of the current trend is 0.906745 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance level at 0.91347 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bullish Tri-Star’ candle chart pattern is detected. The candles form ‘Bullish Tri-Star’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Tri-Star’ going up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91641 |
| 2nd High | 0.91378 |
| Next High | 0.91347 |
| Current Price | 0.90373 |
| Next Low | 0.90178 |
| 2nd Low | 0.90079 |
| 3rd Low | 0.90002 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Tri-Star