If we learn from our graph history, then surely we will open a sell position! The reason for this is simple - every time the audcad touches the moving average 200 it falls and each time it also falls more than the previous time, while these lines are being written, we touch the moving average 200 So our recommendation is to sell.
AUDCAD. AUD has not fallen against CAD while it has fallen against other currencies.
It is currently weak. We can expect a short sell 100 more pips if the 0.97 level stays unbroken.
*Let the 4H candle close and if it closes with a tick at least half the size of its body then we're good for a sell.
Possible short trade in the next few days.
First target: 0.96500
Second target: 0.95500
We might see a pullback from the first profit target to the resistance level of 0.97700.
Goodluck trading and follow me for more analysis!
AUDCAD Hits the monthly support line. wait for the confirmation before going long. but it can go either way if it bounces back it will go up or it may break that support line as well and go to the downside.
Price reached a strong resistance area, and after several days of strong bullish pushes, it finally gave us a first sign of exauthion with a bearish pinbar.. I think we will soon have a correction of this strong bullish movment.
AUDCAD is getting close to a reversal now.
this has now hit the resistance previously
established. waiting for the reversal to
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the AUDCAD structure on this still supports an uptrend
wait for a reversal then enter long. note the support
level and resistance i have put as guide.
SEE ALL OUR PREVIOUS ANALYSIS BELOW
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