Aud/Cad Started Moving Down , but then had a small retest ( or pullback ) Friday! I believe that this pullback is over.
If you move to hour 4 and use candlestick analysis we have a bearish (green) hammer candle coming right off of the support area shown on the chart.
So we had our move down , the pullback, and now we are waiting for some kind of confirmation to enter a sell! According to everything shown it seems that price will move immediately down.
One thing to note... This is consolidation at the bottom of the downtrend and some longer term traders would not like to trade this chart at this time.
Nonetheless I see a nice opportunity for a short term sell for some pips!!!!
If you move to hour 4 and use candlestick analysis we have a bearish (green) hammer candle coming right off of the support area shown on the chart.
So we had our move down , the pullback, and now we are waiting for some kind of confirmation to enter a sell! According to everything shown it seems that price will move immediately down.
One thing to note... This is consolidation at the bottom of the downtrend and some longer term traders would not like to trade this chart at this time.
Nonetheless I see a nice opportunity for a short term sell for some pips!!!!
