asferruzzi
Long

AUDCAD uptrend may continue

FX:AUDCAD   Australian Dollar/Canadian Dollar
15 0 0
The trend is your friend. Clear up trend is in place. Price has retraced to the 50% Fibonacci level in conjunction with a recent inside bar indicating that price is undecided. Often when price is indecisive a strong move can follow as either the buyers or sellers take control. My biased is towards an upward move based on the recent uptrend momentum confirmed by higher time frames. Also price has retraced to a previous resistance level . Entry could be placed above the inside bar to confirm the uptrend and target could be placed at the next major resistance area .
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