AUD/CAD – 1H – BUY

Then a ‘Falling Wedge Chart Pattern’ chart formation is detected. The chart picture shows ‘Falling Wedge Chart Pattern’. which is a positive pattern signal. The pair is likely to go up.

The combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline upwards

An ascending movement up to the next resistance line at 0.88819 will persist.

Caution: A possible trend reversal in the direction of the support level at 0.88203 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Bullish Engulfing’ candle chart pattern is existing. The chart forms ‘Bullish Engulfing’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.

0.88819 – 0.88734 – 0.88482 – 0.88203 – 0.88297 – 0.87970

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Engulfing