AUD/CAD – 30M – BUYThe pair Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance line at 0.90423 is certain.
Caution: A possible change in the direction of support at 0.89664 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bullish Engulfing’ candle pattern is found. The candles show ‘Bullish Engulfing’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.9112 |
| 2nd High | 0.90446 |
| Next High | 0.90423 |
| Current Price | 0.90126 |
| Next Low | 0.89664 |
| 2nd Low | 0.89622 |
| 3rd Low | 0.89514 |
0.8998 – 0.8994 – 0.89877 – 0.89664 – 0.89665 – 0.89622 — 40.230252960972 – 44.513527276458 — 27.317888686467 – 41.346531671711 – 21.62627663907 – 30.390282062641
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Engulfing – Triple bottom chart pattern – –