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AUDCAD H1: Completing The Corrective Advance

FX:AUDCAD   Australian Dollar/Canadian Dollar
I think AUDCAD             is about to complete the recent advance, whose overlapping swings indicate it's been corrective in nature. Price has been oscillating in an upsloping ideal channel, until several hours ago the channel was broken with a decisive bearish candle. In horizontal terms we can also see the recent price action has been developing in two equal ranges; given the backdrop of the down trend, we are quite likely to see the half way level of 0.9245 retested once again.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
wau
+1 Reply
Thanks. :) It's been working nicely indeed.
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