AUD/CAD – 1H – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline up.
A continuation of the bullish trend upwards to the next resistance line at 0.90868 is likely expected.
Caution: A possible trend reversal in the direction of the support line at 0.90379 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Outside Up’ candlestick chart pattern is existing. The chart shows ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91378 |
| 2nd High | 0.91347 |
| Next High | 0.90868 |
| Current Price | 0.90633 |
| Next Low | 0.90379 |
| 2nd Low | 0.89830 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Up