tradermoon
Short

Continuation of the current trend

FX:AUDCAD   Australian Dollar/Canadian Dollar
Based on the past 3 days only, bulls have pushed price to resistance and any sign of reversal could signal a continuation of the bearish trend .

Current resistance area has proven to be unstable in the past so I may not take such trade. Beyond a bearish reversal, there would need to be multiple confirmations to see this go down again. I'm thinking we might see some consolidation here as the level below (0.9735) has proven to be rather strong for buyers in the past.

If we're in a range, this is the beginning and probably the worst time to enter as I won't know how long I have to hold this position.
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