AUD/CAD – 1H – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bullish trendline downwards
A bearish movement downwards to the next support at 0.90389 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 0.90789 could occur.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bullish Engulfing’ candlestick pattern is existing. The candles show ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91347 |
| 2nd High | 0.90868 |
| Next High | 0.90789 |
| Current Price | 0.90739 |
| Next Low | 0.90389 |
| 2nd Low | 0.90340 |
| 3rd Low | 0.89830 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Engulfing