AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the bullish trendline upwards
A continuation of the upward movement up to the next resistance level at 0.90110 will continue.
Caution: A possible counter-trend in the direction of the support line at 0.89241 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Northern Doji’ candlestick chart pattern is found. The chart shows ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90423 |
| 2nd High | 0.90125 |
| Next High | 0.90110 |
| Current Price | 0.89810 |
| Next Low | 0.89241 |
| 2nd Low | 0.89210 |
| 3rd Low | 0.89051 |
0.89667 – 0.89607 – 0.89452 – 0.89241 – 0.89210 – 0.89051
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji –