AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bullish trendline downwards
A bearish movement down to the next support line at 0.89524 will persist.
Caution: A possible change in the direction of resistance at 0.89837 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Bullish Engulfing’ candlestick pattern is existing. The candles form ‘Bullish Engulfing’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90032 |
| Next High | 0.89837 |
| Current Price | 0.89603 |
| Next Low | 0.89524 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Engulfing