AUD/CAD – 30M – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance line at 0.89899 is expected.
Caution: A possible reversal of the trend in the direction of support at 0.88881 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish SBS White Lines’ candlestick pattern is discovered. The candles form ‘Bearish SBS White Lines’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89601 |
| Next Low | 0.88881 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish SBS White Lines