AUD/CAD – 1H – SELLBesides a ‘Double bottom retreat down’ chart layout is existing. The chart picture forms ‘Double bottom retreat down’. which is a negative signal. The currency pair is likely to fall.
The pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline downwards
A descending movement downwards to the next support level at 0.94759 is certain.
Caution: A possible trend reversal in the direction of resistance at 0.95092 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ candle pattern is detected. The chart shows ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.95092 |
| Current Price | 0.95084 |
| Next Low | 0.94759 |
| 2nd Low | 0.94255 |
| 3rd Low | 0.92979 |
0.95092 – 0.94945 – 0.94504 – 0.94759 – 0.94255 – 0.92979 —
0.94935 – 0.95165 —
50.798078403278 – 59.630108460877 —
– —
0.95092 – 1769454000
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing – Double bottom retreat down – – – – – – – –