AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline downwards
A descent downwards to the next support level at 0.89167 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 0.89603 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Harami’ candlestick chart pattern is discovered. The chart forms ‘Bearish Harami’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90173 |
| 2nd High | 0.89932 |
| Next High | 0.89603 |
| Current Price | 0.89387 |
| Next Low | 0.89167 |
| 2nd Low | 0.88881 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Harami