AUD/CAD – 30M – SELL

The combination Australian Dollar/Canadian Dollar (AUD/CAD) moves from the ascending trendline down.

The bearish trend down to the next support line at 0.90389 will persist.

Caution: A possible reversal of the trend in the direction of resistance at 0.90785 should be noted.
Consider stop-loss settings accordingly.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.90436086 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support line at 0.90785 should be noted.
Consider stop-loss settings accordingly.

Furthermore a ‘Three Outside Down’ candle chart pattern is found. The chart shows ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

Download AUD/CAD Signal Image

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Down