AUD/CAD – 30M – SELL

The currency pair Australian Dollar/Canadian Dollar (AUD/CAD) moves from the bearish trendline down.

A continuation of the downward movement downwards to the next support level at 0.97597 is expected.

Caution: A possible trend reversal in the direction of the resistance line at 0.97975 is also possible.
Consider stop-loss settings accordingly.

Moreover a ‘Bearish Engulfing’ candle pattern is existing. The chart forms ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.

0.97975 – 0.97976 – 0.98111 – 0.97597 – 0.97789 – 0.97819 —
0.97741 – 0.97877 —
36.834643249289 – 55.943534981636 —
– —
0.97975 – 1776745800

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing – – – – – – – – –