AUD/CAD – 1H – BUYThere is also a ‘Bullish Engulfing’ chart pattern is discovered. The candles show ‘Bullish Engulfing’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
There is also a ‘Double top chart pattern’ chart formation is existing. The chart shows ‘Double top chart pattern’. which is a bearish chart scenario. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90446 |
| 2nd High | 0.89829 |
| Next High | 0.89114 |
| Current Price | 0.88333 |
| Next Low | 0.87991 |
| 2nd Low | 0.87890 |
| 3rd Low | 0.86205 |
0.89114 – 0.88986 – 0.88922 – 0.88391 – 0.88412 – 0.87991
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Engulfing