AUD/CAD – 1H – SELLThe currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline down.
The bearish trend down to the next support line at is certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.90032 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candlestick chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The 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 | 0.90789 |
| 2nd High | 0.90785 |
| Next High | 0.90032 |
| Current Price | 0.89447 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing