Hello Traders, welcome to the Daily Forex technical analysis
. Today is September 10th, 2019 and we will be taking a look at the Australian Dollar
against the Canadian Dollar
. Looking at the 1 hour time frame we can see price action with an impulsive choppy movement as it continues to move higher. We will be looking at the trend line
of the ascending triangle
that price action is in, if price action breaks down below it we will be looking for an opportunity to enter a short. Entry for a Short position near the .90194 area, with a Stop Loss near the .90451, and a target profit level area of .89778 to possibly ensure a profitable trade with a 1.62 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!