AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline downwards
A bearish descent downwards to the next support line at 0.89066 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.89422 could occur.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles form ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89932 |
| 2nd High | 0.89603 |
| Next High | 0.89422 |
| Current Price | 0.89118 |
| Next Low | 0.89066 |
| 2nd Low | 0.88881 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing