AUD/CAD – 1H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline upwards
A bullish movement upwards to the next resistance level at 0.89307 is likely expected.
Caution: A possible trend reversal in the direction of the support level at could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart scenario. The currency pair could go up.
Also there is a ‘Northern Doji’ chart pattern is found. The candles form ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89671 |
| 2nd High | 0.89432 |
| Next High | 0.89307 |
| Current Price | 0.89183 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.89307 – 0.89432 – 0.89671 – 0.88754 – 0.89052 – 0.89351
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji