AUD/CAD – 1H – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline downwards
A descending movement downwards to the next support line at 0.90939 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 0.91309 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Engulfing’ candle pattern is discovered. The candles show ‘Bearish Engulfing’. which is a bearish signal. The currency 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 | 0.91821 |
| 2nd High | 0.91641 |
| Next High | 0.91309 |
| Current Price | 0.91225 |
| Next Low | 0.90939 |
| 2nd Low | 0.90858 |
| 3rd Low | 0.90758 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing