AUD/CAD – 30M – BUY

The combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the descending trendline upwards

An ascending movement upwards to the next resistance level at 0.98648 is certain.

Caution: A possible counter-trend in the direction of the support line at 0.97559 is also possible.
Consider stop-loss settings accordingly.

Then a ‘Inverted Hammer’ candlestick pattern is found. The chart forms ‘Inverted Hammer’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Inverted Hammer’ going up is 65% (Bull Market).

0.98648 – 0.98679 – 0.9822 – 0.97994 – 0.98013 – 0.98232 —
0.98126 – 0.97881 —
40.798228592111 – 44.530782400965 —
– —
0.98648 – 1776443400

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Inverted Hammer – – – – – – – – –