AUDCAD: Under Short-term Bearish Pressures

FX:AUDCAD   Australian Dollar/Canadian Dollar
573 4 15
AUDCAD             may provide shorting opportunities, as the short term technicals point to further downside.

-The price is trading in a clear short term bearish channel , within the context of the longer term bull channel .
-The price has broken 1.0000 horizontal support and psychological barrier.
-MACD completed a bearish crossover, while Histogram is bearishly divergent.
- A potential target is at the support of the rising channel , and near 0.9820 level.
- The short term bearish channel may unfold to be a bullish flag continuation pattern, and therefore a break above that channel may negate the bearish scenario, and signal the continuation of the bullish trend within the main rising channel .

Best of luck, join me at
I really liked this analysis Iwill be following it
+1 Reply
This is beautiful and so clear! I know this kind of explanation should help me in my trading.
+1 Reply
I loved your comment, cause this is what we exactly intend to do here, help each other make better decisions. Thank You
AnnOrtiz Technician
You are very welcome and I am glad you loved the comment because that was my intent as well, to send back a positive to you.
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out