AUD/CAD – 1H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline down.
A descending movement down to the next support line at 0.89524 will persist.
Caution: A possible change in the direction of the resistance line at 0.90032 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bullish Harami’ candlestick chart pattern is detected. The candles show ‘Bullish Harami’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Harami’ heading up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90789 |
| 2nd High | 0.90785 |
| Next High | 0.90032 |
| Current Price | 0.89561 |
| Next Low | 0.89524 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Harami