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AlkalineFX
Oct 12, 2020 7:10 AM

AUDCAD - Expect Uprise Long

Australian Dollar/Canadian DollarFXCM

Description

I would like to see a slight pullback to re-test the previous order block-level marked. The SL is protected by the daily ATR range and the TP is at a strong daily demand level. If we see price retrace slightly more I may consider setting a buy limit in hopes of getting a wick entry on this pair.

The only thing that could be potentially detrimental to this idea is the AUD employment change figures on Thursday, so fingers crossed this setup will become available early in the week.

COT Data - 56% Short
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