AUD/CAD – 4H – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bullish trendline down.
A bearish descent down to the next support at is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.89899 is also possible.
Consider stop-loss settings accordingly.
And also a ‘Bearish Harami’ candlestick chart pattern is discovered. The chart shows ‘Bearish Harami’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90789 |
| 2nd High | 0.90032 |
| Next High | 0.89899 |
| Current Price | 0.89531 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Harami