AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support at 0.88881 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 0.89899 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bullish Belt Hold’ candle pattern is found. The candles form ‘Bullish Belt Hold’. 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 chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89617 |
| Next Low | 0.88881 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Belt Hold