AUD/CAD – 4H – SELLThe pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bullish trendline down.
A descending movement down to the next support at is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.90032 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Harami’ chart pattern is discovered. The candles show ‘Bearish Harami’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90868 |
| 2nd High | 0.90789 |
| Next High | 0.90032 |
| Current Price | 0.89189 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Harami