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Forex_Positive
Jul 7, 2014 8:07 AM

AUDCAD following bearish channel 

FX:AUDCAD240
Australian Dollar/Canadian DollarFXCM

Description

⋅
AUDCAD following bearish channel very well. This is a counter-trend trade. But the risk/reward is good, as we going long near the lower band of the bearish channel.

Wait for re-test of 0.9940-50, which is last week's low.

Long AUDCAD 0.9940-50
SL 0.9900
TP 1.0100

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