AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline upwards
A bullish movement up to the next resistance at 0.90748 will persist.
Caution: A possible reversal of the trend in the direction of support at 0.90379 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Target of the current trend is 0.91022362 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of resistance at 0.90748 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Outside Up’ candlestick chart pattern is existing. The chart shows ‘Three Outside Up’. this is a bullish 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’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91347 |
| 2nd High | 0.90868 |
| Next High | 0.90748 |
| Current Price | 0.90681 |
| Next Low | 0.90379 |
| 2nd Low | 0.89830 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Up