AUD/CAD – 1H – SELL

The combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the bullish trendline downwards

A bearish descent downwards to the next support level at 0.97994 will continue.

Caution: A possible change in the direction of the resistance level at 0.98679 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 0.980085 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 0.98679 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘On Neck’ candle pattern is found. The chart forms ‘On Neck’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).

0.98679 – 0.9822 – 0.97911 – 0.97994 – 0.98013 – 0.97559 —
0.98126 – 0.98556 —
44.326516324827 – 59.380180333869 —
– —
0.98679 – 1776319200

Trading Signals: FOREX – AUD – AUD/CAD – CAD – On Neck – Rising Wedge Chart Pattern – – – – – – – –