AUD/CAD – 1H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bearish trendline down.
A continuation of the bearish trend down to the next support line at 0.90340 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.90748 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candlestick pattern is found. The chart shows ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91347 |
| 2nd High | 0.90868 |
| Next High | 0.90748 |
| Current Price | 0.90571 |
| Next Low | 0.90340 |
| 2nd Low | 0.89830 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing