AUD/CAD – 4H – SELL

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

A continuation of the downward movement downwards to the next support level at 0.88881 will continue.

Caution: A possible reversal of the trend in the direction of the resistance line at 0.89899 should be noted.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 0.89349932 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of support at 0.89899 should be noted.
Consider stop-loss settings accordingly.

Then a ‘Three Outside Down’ candlestick pattern is found. The chart shows ‘Three Outside Down’. 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 ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

Download AUD/CAD Signal Image

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