AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline downwards
The bearish trend down to the next support line at 0.90499 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.90785 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles show ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90868 |
| 2nd High | 0.90789 |
| Next High | 0.90785 |
| Current Price | 0.90645 |
| Next Low | 0.90499 |
| 2nd Low | 0.90389 |
| 3rd Low | 0.90340 |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing