AUD/CAD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Current target is 0.90464608 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of support at 0.90748 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish Engulfing’ candlestick pattern is detected. 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’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91347 |
| 2nd High | 0.90868 |
| Next High | 0.90748 |
| Current Price | 0.90545 |
| Next Low | 0.90340 |
| 2nd Low | 0.89830 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing