Hello Traders, welcome to the Daily Forex technical analysis
. Today is August 16th, 2019 and we will be taking a look at the Australian Dollar
against the Canadian Dollar
. We are currently looking at the 4 hour time frame and looking to see if price action can reach its previous area of resistance at the .907 area. If price action reaches that region and doesn't gain bullish
momentum we will be looking for entry short. Entry for a Short position near the .90740 area, with a Stop Loss near the .91095, and target profit level area of .89899 to possibly ensure a profitable trade with a 2.37 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!