AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bearish trendline downwards
A continuation of the downtrend downwards to the next support level at 0.89623 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 0.90009 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ chart pattern is detected. The chart shows ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90785 |
| 2nd High | 0.90517 |
| Next High | 0.90009 |
| Current Price | 0.89839 |
| Next Low | 0.89623 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing