AUDCAD hit the 1D MA200 yesteday and came just shu off the top of the Channel Down. The 1D timeframe is technically bullish (RSI = 62.944, MACD = 0.002, ADX = 28.766) but the RSI is also near the top of its Rectangle pattern. The previous top coincided with the Channel Down rejection.
Consequently we are opening a sell now and target the S1 (TP1 = 0.874500) and if a 1D candle closes under, extend selling to the S2 (TP2 = 0.86630).
Prior idea:
## If you like our free content follow our profile to get more daily ideas. ##
cad weakness will carry on into next week as BoC were very dovish yesterday and if RBA are bullish on Tuesday and china data is strong on Monday they will rocket up
pejman_zwin
⋅
Thanks for sharing this. It might be possible.💪
Mihai_Iacob
⋅
Thanks for sharing. A drop for AUDCAD is probable, indeed.
ArmanShabanTrading
⋅
Beautiful setup!
LegionQ8
⋅
Nice chart mate, it's correct idea as always from you