AUD/CAD – 30M – SELL

The pair Australian Dollar/Canadian Dollar (AUD/CAD) goes from the ascending trendline down.

A descending movement downwards to the next support line at 0.90776 is likely expected.

Caution: A possible change in the direction of the resistance line at 0.91378 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 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 0.91044 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support line at 0.91378 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.

Download AUD/CAD Signal Image

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