aslamhammad
Short

AUD/CAD RBA Cash Rate + Retail Sale Trade

FX:AUDCAD   Australian Dollar/Canadian Dollar
25 5 1
Well it looks overbought .....So i would short it below the senkou span b border (which is acting like a temp support area).....Once we go below it, there is probability that the price will come down to support area E.

Short @ 0.9552
TP 1 0.9516
TP 2 @ 0.9501
TP 3 @ 0.9470
SL @ 0.9700
AbdullaMohd
a year ago
update your charts
it breaks the resistance already
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aslamhammad AbdullaMohd
a year ago
ok one sec...
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aslamhammad aslamhammad
a year ago
snapshot
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aslamhammad aslamhammad
a year ago
Well price is currently extremely overbought.....So, eventually it's going to come down....Main support is around 0.9542....If we retest this area in future and close below it alittle bit, around 0.9500, that would mean a descending triangle type pattern. Else price can continue higher, if Oil prices fall further down, which however i'm not expecting below 45$. Than we can expect further rally in all cad pairs, but...at the moment, it is possible to expect a slight consolidation
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AbdullaMohd
a year ago
great chart update, thanks for explaining
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