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FX.co ★ AUDCAD M5: Bearish Rectangle

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Technical Analysis Patterns

2024-12-18T18:23:15
Signal strength 1 of 5

AUDCAD M5: Bearish Rectangle

Bearish RectangleAccording to the chart of M5, AUDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.9032 - 0.0000 and support 0.9024 – 0.9024. In case the resistance level 0.9024 - 0.9024 is broken, the instrument is likely to follow the bearish trend.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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