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velmunis
Nov 10, 2023 5:27 AM

AUDCAD is approaching midpoint bullish run expected Long

FX:AUDCAD240
Australian Dollar/Canadian DollarFXCM

Description

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AUDCAD is falling towards midlevel 50% Fibonacci level, AUD weakness after the RBA interest rate hike with dovish statement which led to the downfall in AUDCAD and yesterday USD strength is also a another factor for the downward correction in AUDCAD. If risk trades getting traction this pair will bounce from .87450 level the possible upper side target will be .89000. Stop lose may set below the .87000 level will give us 3.88 Risk reward ratio. Happy trading

Trade active

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Still we are expecting that the price will reach the midpoint
Trend AnalysisFundamental AnalysisAUDCADaudcadlongaudcadanalysisaudcadsetupaudcadforecastaudcadsignal
Comments
TheFxAce
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I can see the potential for considerable gains from your bullish analysis.
velmunis
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@TheFxAce yeah brother we can wait till it's reach our expected entry level
nasser_z
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Nice!😎but this is liquidity to take you out !
velmunis
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@nasser_z if it's the case will enter with multiple confirmations
nasser_z
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@nasser_z great bro..yes you're right 👍
nasser_z
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@velmunis I will wait either to take short from the top exactly where you put you're take profit or wait to take buy with the trend
velmunis
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@nasser_z yeah that will be better
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