AUD/CAD – 30M – SELL

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

A continuation of the downward movement downwards to the next support level at 0.96313 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance zone at 0.9708 could occur.
Consider stop-loss settings accordingly.

Next a ‘MACD crosses below signal’ indicator signal is discovered. The indicator shows ‘MACD crosses below signal’. this is usually a bearish chart signal. The currency pair could go down.

Next a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 0.967145 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.9708 could occur.
Consider stop-loss settings accordingly.

Next a ‘Two Crows’ candle pattern is existing. The candles form ‘Two Crows’. 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 ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).

0.9708 – 0.97228 – 0.97443 – 0.96313 – 0.95986 – 0.97067 —
0.97034 – 0.97299 —
57.362547897275 – 64.33813870633 —
– —
0.9708 – 1772427600

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Two Crows – Symmetrical Triangle Chart Pattern – – – – – – – –