AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline down.
A bearish movement down to the next support level at 0.88880 is considered certain.
Caution: A possible change in the direction of the resistance zone at 0.89422 could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Bearish Harami’ candlestick chart pattern is existing. The chart forms ‘Bearish Harami’. which is a bearish signal. 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 | 0.89932 |
| 2nd High | 0.89603 |
| Next High | 0.89422 |
| Current Price | 0.89284 |
| Next Low | 0.88880 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Harami