AUD/CAD – 30M – SELL

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

A continuation of the downward movement down to the next support level at 0.89378 is certain.

Caution: A possible change in the direction of the resistance level at 0.89899 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.89489494 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support zone at 0.89899 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Two Crows’ candle pattern is existing. The candles show ‘Two Crows’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘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