AUD/CAD – 30M – SELL

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

A bearish movement downwards to the next support level at 0.90812 is expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 0.91109 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.9094106 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.91109 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Bearish Engulfing’ chart pattern is detected. The candles form ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.

Download AUD/CAD Signal Image

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Bearish Engulfing