AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline downwards
A bearish trend downwards to the next support line at 0.90389 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 0.90789 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three White Soldiers’ candlestick chart pattern is detected. The chart shows ‘Three White Soldiers’. 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 success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91347 |
| 2nd High | 0.90868 |
| Next High | 0.90789 |
| Current Price | 0.90700 |
| Next Low | 0.90389 |
| 2nd Low | 0.90340 |
| 3rd Low | 0.89830 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers