AUD/CAD - D1
Our expectations: The price is in a downward trend, with the latest corrective impulse providing good levels for Short with the trend. SL: 0.9539.
Alternative Scenario: If the price moves above the resistance zone, the negative scenario will be spoiled, and we are more likely to see an increase.
Comment: Downward trend and price near a key resistance zone formed by a main bearish diagonal, a horizontal resistance zone. 23.6% Fibonacci correction of the main trend and 50SMA. Price Action - Bear reversing bar that clearly shows the strength of the bears. Sequential counts down 2 - the downward wave is at the beginning. DeMarker enters an oversupply area but still does not report a shortening - a weaker corrective impulse is likely. It is then that more conservative traders will seek entry.
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