AUD/CAD – 1H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the ascending trendline up.
A continuation of the uptrend upwards to the next resistance line at 0.88787 is certain.
Caution: A possible reversal of the trend in the direction of support at 0.86205 is also possible.
Consider stop-loss settings accordingly.
Then a ‘Northern Doji’ candlestick chart pattern is discovered. The candles form ‘Northern Doji’. which is a positive signal. The currency pair is likely to go up. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90446 |
| 2nd High | 0.89829 |
| Next High | 0.88787 |
| Current Price | 0.88647 |
| Next Low | 0.86205 |
| 2nd Low | 0.84402 |
| 3rd Low |
0.88787 – 0.87448 – 0.86190 – 0.86205 – 0.84402 – 0.84579
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji