AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the descending trendline downwards
A continuation of the bearish trend downwards to the next support level at 0.90681 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.91245 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish Engulfing’ candle pattern is found. The candles show ‘Bearish Engulfing’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91388 |
| 2nd High | 0.91293 |
| Next High | 0.91245 |
| Current Price | 0.90868 |
| Next Low | 0.90681 |
| 2nd Low | 0.90494 |
| 3rd Low | 0.90439 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing