AUD/CAD – 30M – BUYMoreover a ‘Falling Wedge Chart Pattern’ chart pattern is existing. The chart picture forms ‘Falling Wedge Chart Pattern’. which is a positive signal. The pair is likely to go up.
The combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline up.
A bullish trend up to the next resistance line at 0.88784 is considered certain.
Caution: A possible counter-trend in the direction of the support zone at 0.88203 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88863 |
| 2nd High | 0.88819 |
| Next High | 0.88784 |
| Current Price | 0.88794 |
| Next Low | 0.88203 |
| 2nd Low | 0.87970 |
| 3rd Low | 0.87890 |
0.88784 – 0.88819 – 0.88734 – 0.88203 – 0.88297 – 0.87970
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji