AUD/CAD – 30M – SELL

The combination Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the descending trendline downwards

A continuation of the downward movement downwards to the next support level at 0.89100 is likely expected.

Caution: A possible counter-trend in the direction of the resistance line at 0.89334 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.89050628 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of support at 0.89334 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘Two Crows’ chart pattern is found. The candles form ‘Two Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).

Download AUD/CAD Signal Image

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Two Crows