AUD/CAD – 30M – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline upwards
A bullish trend up to the next resistance level at 0.89893 is likely expected.
Caution: A possible trend reversal in the direction of the support level at 0.89674 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Outside Up’ chart pattern is existing. The candles form ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90009 |
| 2nd High | 0.89938 |
| Next High | 0.89893 |
| Current Price | 0.89643 |
| Next Low | 0.89674 |
| 2nd Low | 0.89623 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Up