AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline up.
An ascending movement up to the next resistance level at 0.89899 is likely expected.
Caution: A possible change in the direction of the support level at 0.89092 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 0.894955 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance line at 0.89899 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three White Soldiers’ candlestick pattern is detected. The candles show ‘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 probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89412 |
| Next Low | 0.89092 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three White Soldiers