And also a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair could go down.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 0.97945 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support level at 0.98324 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Engulfing’ chart pattern is discovered. The chart shows ‘Bearish Engulfing’. which 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 likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.98517 |
| 2nd High | 0.98467 |
| Next High | 0.98324 |
| Current Price | 0.97962 |
| Next Low | 0.97945 |
| 2nd Low | 0.97787 |
| 3rd Low | 0.97648 |
0.98324 – 0.98467 – 0.98282 – 0.98124 – 0.98151 – 0.98221 —
0.98076 – 0.98084 —
39.713748974113 – 42.003897328178 —
– —
0.98324 – 1784226600
Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing – – – – – – – – –