AUD/CAD – 1H – SELL

Also there is a ‘Double bottom retreat down’ chart layout is discovered. The chart shows ‘Double bottom retreat down’. which is a bearish signal. The currency pair is likely to fall.

The combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the ascending trendline down.

A bearish descent downwards to the next support level at 0.96352 is considered certain.

Caution: A possible change in the direction of resistance at 0.96979 could happen.
Consider stop-loss settings accordingly.

Also there is a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. 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%.

0.96699 – 0.96678 – 0.96571 – 0.96352 – 0.96185 – 0.96151 —
0.96484 – 0.96723 —
46.346119696365 – 59.111843795446 —
– —
0.96699 – 1771412400

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing – Double bottom retreat down – – – – – – – –