AUD/CAD – 1H – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline up.
A bullish ascent upwards to the next resistance at 0.89837 will continue.
Caution: A possible reversal of the trend in the direction of the support line at 0.89413 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘Three White Soldiers’ candlestick pattern is existing. The chart shows ‘Three White Soldiers’. 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 White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90032 |
| Next High | 0.89837 |
| Current Price | 0.89682 |
| Next Low | 0.89413 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers