AUD/CAD – 1H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline downwards
A bearish trend down to the next support line at 0.90002 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 0.90701 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish Engulfing’ candle pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative pattern 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 | 0.91378 |
| 2nd High | 0.91243 |
| Next High | 0.90701 |
| Current Price | 0.90149 |
| Next Low | 0.90002 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing