AUD/CAD – 4H – SELL

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

A bearish descent downwards to the next support level at 0.89051 is certain.

Caution: A possible change in the direction of the resistance level at 0.89608 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is certain. Current target is 0.89204204 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support line at 0.89608 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Matching Low’ candle chart pattern is found. The candles form ‘Matching Low’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ going up is 61% (Bull & Bear Market).

0.89608 – 0.89273 – 0.89469 – 0.89051 – 0.87897 – 0.87970

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Matching Low – Rising Wedge Chart Pattern