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Erady_Pascal

AUDCAD; important decision ahead

Long
Australian Dollar/Canadian Dollar (FOREXCOM:AUDCAD)  
Erady_Pascal  
FOREXCOM:AUDCAD   Australian Dollar/Canadian Dollar
Trend Analysis Chart Patterns Technical Indicators AUDCAD audcadlong audcadanalysis audcadforecast Falling Wedge
6
2
trendanalysis chartpattern indicator audcad audcadlong audcadanalysis audcadforecast fallingwedge
For about four weeks now AUDCAD has been trading in a strong bearish trend. So far the price has formed a falling wedge pattern on 4H as it approaches the daily support which is also a potential demand zone.
I expect a reversal from this zone. To trade more safely I will wait for the breakout and retest of the structure.

The setup will be invalid once the price violates the highlighted support.

What is your opinion on AUDCAD?
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