AUD/CAD – 1H – SELL

The currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the descending trendline down.

A continuation of the downward movement downwards to the next support at 0.97471 is expected.

Caution: A possible trend reversal in the direction of resistance at 0.9793 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Bearish Engulfing’ candle chart pattern is detected. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.

0.9793 – 0.97943 – 0.98111 – 0.97661 – 0.97471 – 0.97789 —
0.97845 – 0.97787 —
52.08396223306 – 47.855120986 —
– —
0.9793 – 1776848400

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