AUD/CAD – 30M – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 0.90681 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 0.91245 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bearish Engulfing’ candle pattern is found. The candles show ‘Bearish Engulfing’. which is a bearish signal. 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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91388 |
| 2nd High | 0.91293 |
| Next High | 0.91245 |
| Current Price | 0.90846 |
| Next Low | 0.90681 |
| 2nd Low | 0.90494 |
| 3rd Low | 0.90439 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing