CADAUD appears to be heading lower. It is in a very deep downtrend. The market has formed a "W" pattern, which is a bullish sign BUT it appears that price has bumped against the upper trend line. The market has not retested the 1.000 level so this tells me price may still be headed down. Hopefully the buyers won't get trapped in the market.
@jamesleo, I am really curious to see if this is a bullish trap. I really believe the market should retest support before running higher. Only time will tell.
UnknownUnicorn24212010
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@jamesleo wow "heading up" great input brainiac. did you learn how to go up in 5th grade?