AUD/CAD – 1H – SELL

The currency pair Australian Dollar/Canadian Dollar (AUD/CAD) jumps from the descending trendline downwards

A continuation of the downtrend down to the next support at 0.97661 will persist.

Caution: A possible change in the direction of the resistance line at 0.98111 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is found. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart signal. The currency pair is likely to fall.

Additionally a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. which could be a negative signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Current target is 0.97761 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support line at 0.98111 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘Three Outside Down’ candle chart pattern is existing. The candles show ‘Three Outside Down’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.97911 – 0.9793 – 0.97943 – 0.97661 – 0.97471 – 0.97789 —
0.97741 – 0.97967 —
42.643536908911 – 60.946912610714 —
– —
0.97911 – 1776913200

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Three Outside Down – Symmetrical Triangle Chart Pattern – – – – – – – –