AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline upwards
An ascent up to the next resistance at 0.89735 will continue.
Caution: A possible change in the direction of the support zone at 0.89413 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Outside Up’ candle chart pattern is existing. The candles form ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90032 |
| 2nd High | 0.89837 |
| Next High | 0.89735 |
| Current Price | 0.89645 |
| Next Low | 0.89413 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Up