AUD/CAD – 1H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline down.
A descending movement downwards to the next support at 0.89215 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.90173 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Harami’ candle chart pattern is found. The chart shows ‘Bearish Harami’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90789 |
| 2nd High | 0.90785 |
| Next High | 0.90173 |
| Current Price | 0.89691 |
| Next Low | 0.89215 |
| 2nd Low | 0.88881 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Harami