AUD/CAD – 30M – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the ascending trendline up.
A continuation of the uptrend up to the next resistance line at 0.91343 will persist.
Caution: A possible trend reversal in the direction of the support zone at 0.9108 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Northern Doji’ chart pattern is discovered. The chart forms ‘Northern Doji’. 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 probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.91343 |
| Current Price | 0.91475 |
| Next Low | 0.9108 |
| 2nd Low | 0.91061 |
| 3rd Low | 0.90898 |
0.91343 – 0.91078 – 0.8998 – 0.9108 – 0.91061 – 0.90898 — 69.801107860759 – 71.731137016149 — 100 – 100 – 95.398800306153 – 99.96618073726
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Northern Doji – – –