AUD/CAD – 30M – SELL

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

The bearish trend down to the next support at 0.97389 is certain.

Caution: A possible change in the direction of the resistance level at 0.98031 could be enabled.
Consider stop-loss settings accordingly.

Then a ‘MACD crosses below signal’ indicator signal is found. The indicator shows ‘MACD crosses below signal’. this is usually a bearish chart signal. The currency pair is likely to fall.

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

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.97389 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the support line at 0.98031 could be enabled.
Consider stop-loss settings accordingly.

Then a ‘Three Outside Down’ candlestick chart pattern is detected. The candles form ‘Three Outside Down’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.98031 – 0.98062 – 0.98054 – 0.97389 – 0.97598 – 0.97826 —
0.97627 – 0.97585 —
42.40884108834 – 40.317979663782 —
– —
0.98031 – 1777876200

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