AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support line at 0.89731 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.90009 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Engulfing’ candle pattern is detected. The chart forms ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90517 |
| Next High | 0.90009 |
| Current Price | 0.89805 |
| Next Low | 0.89731 |
| 2nd Low | 0.89623 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing