AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline downwards
A bearish descent down to the next support line at 0.89378 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.90032 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Harami’ chart pattern is detected. The chart shows ‘Bearish Harami’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90789 |
| 2nd High | 0.90785 |
| Next High | 0.90032 |
| Current Price | 0.89839 |
| Next Low | 0.89378 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Harami