AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline up.
A bullish movement up to the next resistance level at 0.89307 is likely expected.
Caution: A possible counter-trend in the direction of the support level at could happen.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is found. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bullish chart signal. The currency pair could go up.
In addition a ‘Hammer’ chart pattern is discovered. The chart shows ‘Hammer’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Hammer’ going up is 60% (Bull Market) & 59% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89671 |
| 2nd High | 0.89432 |
| Next High | 0.89307 |
| Current Price | 0.89135 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.89307 – 0.89432 – 0.89671 – 0.88882 – 0.88897 – 0.88754