AUD/CAD – 1H – SELL

The currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline downwards

A bearish trend downwards to the next support at 0.97539 is likely expected.

Caution: A possible counter-trend in the direction of the resistance zone at 0.97992 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘MACD crosses below signal’ indicator signal is existing. The indicator shows ‘MACD crosses below signal’. which could be a negative signal. The pair is likely to go down.

Then a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The pair is likely to go down.

Then a ‘Bearish Engulfing’ chart pattern is found. The chart forms ‘Bearish Engulfing’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.

0.97992 – 0.98335 – 0.97996 – 0.97539 – 0.97222 – 0.97717 —
0.97952 – 0.97975 —
63.464186599003 – 59.268427338121 —
– —
0.97992 – 1777568400

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing – – – – – – – – –