I have been posting some analysis on this pair for the past week and here is the update. After a pretty decent drop, AUDCAD will try to retouch the rising wedge it just broke out of. This retouch, which is also the previous daily level, should provide enough resistance for the pair to come back down and continue its way towards the next daily level, which is...
If it touches the purple circle on Sunday night, I will short EURCAD. The latest entry on this setup is in the purple square, which will become your stop loss afterwards. As a result, you should break even if the trade does not go our way. Target: 1.4300
Continuation possible du setup précédent. Un trailing stop pourrait être mis en place à 1.0255 dans l'éventualité d'une poussée vers le bas. Rising Wedge Higher Highs & Higher Lows Strong Weekly Resistance Target: 1.0235 Duration: 1-2 jour(s) *Possible continuation if it breaks the rising wedge support (1.0220).