AUD/CAD – 30M – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bearish trendline up.
An ascent up to the next resistance at 0.89536 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 0.88972 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Northern Doji’ candlestick pattern is found. The candles form ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89829 |
| 2nd High | 0.89718 |
| Next High | 0.89536 |
| Current Price | 0.89544 |
| Next Low | 0.88972 |
| 2nd Low | 0.88807 |
| 3rd Low | 0.88790 |
0.89536 – 0.89239 – 0.89308 – 0.88972 – 0.88807 – 0.88833
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji