AUD/CAD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 0.89643888 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.90032 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candle pattern is detected. The candles show ‘Bearish Engulfing’. this is a bearish 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 | 0.90785 |
| 2nd High | 0.90517 |
| Next High | 0.90032 |
| Current Price | 0.89727 |
| Next Low | 0.89524 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing