AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bearish trendline up.
An ascending movement upwards to the next resistance level at 0.89932 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 0.89394 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Bullish Belt Hold’ candlestick chart pattern is found. The chart forms ‘Bullish Belt Hold’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90173 |
| Next High | 0.89932 |
| Current Price | 0.89569 |
| Next Low | 0.89394 |
| 2nd Low | 0.89298 |
| 3rd Low | 0.89215 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Belt Hold