AUD/CAD – 1H – BUYThe combination Australian Dollar/Canadian Dollar (AUD/CAD) breaks through the descending trendline upwards
An ascending movement up to the next resistance level at 0.96202 is considered certain.
Caution: A possible trend reversal in the direction of the support line at 0.94618 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bullish Belt Hold’ candle pattern is existing. The candles form ‘Bullish Belt Hold’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.97299 |
| 2nd High | 0.96681 |
| Next High | 0.96202 |
| Current Price | 0.96116 |
| Next Low | 0.94618 |
| 2nd Low | 0.94416 |
| 3rd Low | 0.94255 |
0.96202 – 0.96681 – 0.97299 – 0.94618 – 0.95533 – 0.95641 —
0.96164 – 0.96032 —
71.034384540182 – 61.363108835515 —
– —
0.96202 – 1772787600
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bullish Belt Hold – – – – – – – – –