AUD/CAD – 1H – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline upwards
A bullish ascent upwards to the next resistance line at 0.89714 will continue.
Caution: A possible change in the direction of the support level at 0.89215 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Three Outside Up’ chart pattern is discovered. The chart shows ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to rise. 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 | 0.89899 |
| Next High | 0.89714 |
| Current Price | 0.89695 |
| Next Low | 0.89215 |
| 2nd Low | 0.88881 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Up