AUD/CAD – 30M – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline down.
The bearish trend downwards to the next support level at 0.96414 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.97594 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Bearish Engulfing’ chart pattern is found. The candles show ‘Bearish Engulfing’. 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 chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.97594 |
| Current Price | 0.97299 |
| Next Low | 0.96414 |
| 2nd Low | 0.96046 |
| 3rd Low | 0.95809 |
0.97033 – 0.9682 – 0.96204 – 0.96414 – 0.96046 – 0.95809 —
0.97178 – 0.97324 —
65.119134628152 – 62.198518880166 —
– —
0.97033 – 1773729000
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing – Rising Wedge Chart Pattern – – – – – – – –