AUD/CAD – 4H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bearish trendline down.
A continuation of the downward movement downwards to the next support at 0.88881 is considered certain.
Caution: A possible change in the direction of the resistance level at 0.90173 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Harami’ candle pattern is detected. The candles show ‘Bearish Harami’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90868 |
| 2nd High | 0.90789 |
| Next High | 0.90173 |
| Current Price | 0.89154 |
| Next Low | 0.88881 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Harami