AUDCAD | Bearish Flag Below Broken Support

Please support this idea with LIKE if you find it useful.

Initiate Short.

Entry - 0.88218
TP1 - 0.84586
TP2 - 0.82921
SL - 0.89735

Reason: After sideways market the price broke the Support zone and fixed below. Also formed a bearish flag under support zone (currently resistance).
However we have a Falling Wedge that can continue forming. In case there is a breakout of this pattern and Resistance zone we can change our mind and the position's direction.

Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.

Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.

The information given is not a Financial Advise.