AUD/CAD – 4H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline up.
A bullish movement upwards to the next resistance at 0.90789 is considered certain.
Caution: A possible change in the direction of the support line at 0.90340 could occur.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bearish SBS White Lines’ candlestick chart pattern is discovered. The chart shows ‘Bearish SBS White Lines’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91347 |
| 2nd High | 0.90868 |
| Next High | 0.90789 |
| Current Price | 0.89850 |
| Next Low | 0.90340 |
| 2nd Low | 0.89830 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish SBS White Lines