AUD/CAD – 30M – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline down.
A bearish descent downwards to the next support level at 0.90865 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 0.91208 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Bearish Engulfing’ candlestick pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91747 |
| 2nd High | 0.91611 |
| Next High | 0.91208 |
| Current Price | 0.91179 |
| Next Low | 0.90865 |
| 2nd Low | 0.90704 |
| 3rd Low | 0.90494 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing