AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bullish trendline down.
A bearish descent down to the next support at 0.89517 will persist.
Caution: A possible trend reversal in the direction of resistance at 0.90032 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Engulfing’ candlestick pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative 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 | 0.89839 |
| Next Low | 0.89517 |
| 2nd Low | 0.89378 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing