AUD/CAD – 1H – BUYThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the ascending trendline upwards
A continuation of the upward movement upwards to the next resistance level at 0.90110 will continue.
Caution: A possible change in the direction of the support zone at 0.89241 is also possible.
Consider stop-loss settings accordingly.
Furthermore a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. 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 ‘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 | 0.89787 |
| 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 –