11021992

AUDCAD triangle forming on the daily

FX:AUDCAD   Australian Dollar/Canadian Dollar
96 0 12
Hi all,

On the AUDUSD             we can clearly see a triangle forming.
I am expecting one of four things to happen:

1: A breakout to the upside, followed by a direct move up
2. A breakout to the upside, followed by a small move up and then a retracement back down to the trendline . From here the price should bounce and go up again
3: A breakout to the downside, followed by a direct move down
4: A breakout to the downside, followed by a small move down and then a retracement back up to the trendline . From here the price should bounce and down up again

Best of luck!
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