AUD/CAD – 30M – SELL

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 0.89489494 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support line at 0.89899 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Three Outside Down’ candle pattern is detected. The chart forms ‘Three Outside Down’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance 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