After rising steadily for several weeks, the Canadian dollar seems to have come to a standstill.
Why? Last Friday we saw the CAD drop sharply against all other currencies. Concretely this would mean that the AUDCAD pair could start to rise again. The candlestick shows that prices have stopped at a weekly support.
It is for this reason that I see a great opportunity here to take an upside position on the pair as soon as the markets open on Monday. The stop loss will be positioned below 0.9065.
You can follow the evolution of my position directly on my MT4 account live.
Enjoy!
Why? Last Friday we saw the CAD drop sharply against all other currencies. Concretely this would mean that the AUDCAD pair could start to rise again. The candlestick shows that prices have stopped at a weekly support.
It is for this reason that I see a great opportunity here to take an upside position on the pair as soon as the markets open on Monday. The stop loss will be positioned below 0.9065.
You can follow the evolution of my position directly on my MT4 account live.
Enjoy!