AUD/CAD – 1H – SELL

The combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline downwards

A bearish descent downwards to the next support at 0.98013 is expected.

Caution: A possible trend reversal in the direction of the resistance level at 0.98679 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Bearish Engulfing’ candle pattern is existing. The candles show ‘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 probability of ‘Bearish Engulfing’ going down is 79%.

0.98679 – 0.9822 – 0.97911 – 0.98013 – 0.97559 – 0.97338 —
0.98141 – 0.98193 —
38.156936992028 – 43.200329540171 —
– —
0.98679 – 1776319200

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing – – – – – – – – –