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AUDCAD is fast approaching major resistance at 0.9705 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 0.9644 (Fibonacci retracement, horizontal pullback support).
Stochastic (89,5,3) is seeing major resistance at 91% where a corresponding ...
Perfect AB=CD opportunity AUDCAD is for Buy....
This is The Best Setup Ever. C leg is extremely streched shows bearish pressure.Any short trade cannot be better than this one.
Best of luck Muze (aud/cad)
looking for a retrace back up to the 50ema (red) and a retest of the 50 ema and trend line and a fail. Once it fails and begins to head back down to the lower trend line a sell position can be taken.
Market price is approaching a resistance level and momentum is reaching a resistance level as well. As long as market price stays below 1.007 and momentum stays below .004 area this is a safe trade. If momentum breaks above the resistance level I have in place the trade would no longer be safe and should be possibly closed as it could open up room for a bullish move.
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...