AUDCAD Short Term Forecast
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.
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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