AUD/CAD – 30M – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the descending trendline up.
An ascent upwards to the next resistance line at 0.88863 is certain.
Caution: A possible reversal of the trend in the direction of the support line at 0.88001 could occur.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Northern Doji’ candlestick chart pattern is detected. The candles show ‘Northern Doji’. this is a bullish chart scenario. 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89371 |
| 2nd High | 0.88970 |
| Next High | 0.88863 |
| Current Price | 0.88304 |
| Next Low | 0.88001 |
| 2nd Low | 0.87970 |
| 3rd Low | 0.87890 |
0.88863 – 0.88970 – 0.88961 – 0.88543 – 0.88613 – 0.88789
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji