AUD/CAD – 30M – SELLThe combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support line at 0.97411 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.97975 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Last Engulfing Top’ candlestick pattern is existing. The chart shows ‘Last Engulfing Top’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.98111 |
| 2nd High | 0.97976 |
| Next High | 0.97975 |
| Current Price | 0.97675 |
| Next Low | 0.97411 |
| 2nd Low | 0.97338 |
| 3rd Low | 0.96835 |
0.97975 – 0.97976 – 0.98111 – 0.97789 – 0.97819 – 0.97411 —
0.97810 – 0.97720 —
39.592193844527 – 36.95554851476 —
– —
0.97975 – 1776745800
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Last Engulfing Top – – – – – – – – –