AUD/CAD – 1H – SELL

The combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the bearish trendline down.

A continuation of the downward movement down to the next support level at 0.97471 will persist.

Caution: A possible change in the direction of the resistance line at 0.97943 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart signal. The pair is likely to go down.

Moreover a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. this is usually a bearish chart signal. The pair is likely to go down.

Moreover a ‘Bearish Engulfing’ candle pattern is existing. The chart shows ‘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 probability of ‘Bearish Engulfing’ going down is 79%.

0.97943 – 0.98111 – 0.98648 – 0.97471 – 0.97789 – 0.97411 —
0.97828 – 0.97841 —
47.839388055314 – 49.642137373066 —
– —
0.97943 – 1776790800

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing – Symmetrical Triangle Chart Pattern – – – – – – – –