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VladimirRibakov

AUDCAD Short Term Forecast

Short
Australian Dollar/Canadian Dollar (FX:AUDCAD)  
VladimirRibakov  
FX:AUDCAD   Australian Dollar/Canadian Dollar
Trend Analysis Multiple Time Frame Analysis Wave Analysis AUDCAD SELL Bearish Patterns forecast correction Shooting Star Engulfing Candle falsebreak
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trendanalysis mtfa waveanalysis audcad sell bearish forecast correction shootingstar engulfingcandle falsebreak
D1 - Bullish trend pattern.

The price has reached a key resistance zone formed by the 161.8% (0.96314) fibonacci expansion level of the first wave and the 61.8% (0.98591) fibonacci expansion level of the second wave. Shooting star candle pattern, potential bearish divergence.

Expecting corrections to happen now.

H4 - Engulfing candle pattern. The price has created a false break of the wedge pattern.

Expecting the price to continue lower further in the short term.
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