AUD/CAD – 1H – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline downwards
A descent down to the next support at is expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.89899 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish Harami’ candlestick pattern is discovered. The candles show ‘Bearish Harami’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89298 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Harami