Luke220600

AUDCAD TECHNICAL ANALYSIS AND POSSIBLE POSITION OPENING

Long
FX:AUDCAD   Australian Dollar/Canadian Dollar
AUDCAD is still on a bullish weekly trend, so its possible that it might revisit previous high. The pair failed to break completely and form a bearish continuation, so if a new solid support forms a i will open a new Buy position for a 1:2 risk reward. I WILL OPEN POSITION ONLY AT THE RETEST OF 0.89220 KEY LEVEL.
Order cancelled: We didn't have a clear retest of the key level 0.89220, even if the pair managed to break through there wasn't any retest of the support, instead it failed to hold, so i will wait for better entries.
Trade active: Still bullish on AUDCAD, the pair didn't manage to form a lower low. Trade is still active. If we see a good retest on 0.89200 i would enter for a buy.

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