AUD/CAD – 30M – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support line at 0.89731 will persist.
Caution: A possible change in the direction of resistance at 0.89938 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Engulfing’ chart pattern is detected. The chart shows ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90517 |
| 2nd High | 0.90009 |
| Next High | 0.89938 |
| Current Price | 0.89739 |
| Next Low | 0.89731 |
| 2nd Low | 0.89623 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing