AUD/CAD – 1H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline downwards
A bearish trend down to the next support line at 0.89524 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.90032 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Last Engulfing Bottom:’ chart pattern is discovered. The chart shows ‘Last Engulfing Bottom:’. 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 likelyhood of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90789 |
| 2nd High | 0.90785 |
| Next High | 0.90032 |
| Current Price | 0.89717 |
| Next Low | 0.89524 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Last Engulfing Bottom: