AUD/CAD – 1H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bullish trendline downwards
A bearish trend downwards to the next support line at 0.89830 is certain.
Caution: A possible trend reversal in the direction of resistance at 0.90785 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Bearish Engulfing’ candlestick pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance 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 | 0.89835 |
| Next Low | 0.89830 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing