AUD/CAD – 1H – BUY

Furthermore a ‘Double bottom retreat down’ chart layout is detected. The chart picture forms ‘Double bottom retreat down’. this is a bearish signal. The currency pair is likely to go down.

The combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline up.

A continuation of the upward movement upwards to the next resistance at 0.88734 is considered certain.

Caution: A possible reversal of the trend in the direction of the support level at 0.88297 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart scenario. The pair is likely to go up.

Furthermore a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. this is usually a bullish chart signal. The currency pair could go up.

Furthermore a ‘Bullish Belt Hold’ candle pattern is detected. The chart forms ‘Bullish Belt Hold’. which 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 likelyhood of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).

0.88734 – 0.88482 – 0.88970 – 0.88297 – 0.87970 – 0.88034

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Belt Hold