AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline up.
A bullish trend up to the next resistance line at 0.87178 will continue.
Caution: A possible change in the direction of the support level at 0.86205 should always be considered.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ candlestick chart pattern is found. The chart shows ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Besides a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which is often a bullish chart scenario. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89829 |
| 2nd High | 0.87448 |
| Next High | 0.87178 |
| Current Price | 0.87176 |
| Next Low | 0.86205 |
| 2nd Low | 0.85072 |
| 3rd Low | 0.84402 |
0.87178 – 0.87448 – 0.87218 – 0.86205 – 0.86425 – 0.86449
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji