AUD/CAD – 1H – SELL

The pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline downwards

A descent down to the next support level at 0.94618 will persist.

Caution: A possible trend reversal in the direction of the resistance line at 0.97443 could occur.
Consider stop-loss settings accordingly.

Furthermore a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. this is usually a bearish chart signal. The pair is likely to go down.

Furthermore a ‘Last Engulfing Bottom:’ candle pattern is discovered. The chart forms ‘Last Engulfing Bottom:’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).

0.97267 – 0.96202 – 0.96681 – 0.94618 – 0.95533 – 0.95641 —
0.96656 – 0.97384 —
57.430557393767 – 68.726591881466 —
– —
0.97267 – 1773172800

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Last Engulfing Bottom: – – – – – – – – –