AUDCAD has been in a downward channel for awhile. As you can see on the weekly chart we rejected off the support and it looks like AUDCAD could at least be a good buy back up to the top of the channel and may even break up out of the channel eventually.
THIS WILL BE A KEY AREA AND WILL EITHER FALL TO THE NEXT ZONE OR IT COULD CONTINUE LONG AS WELL. XRP HAS BEEN MIMICKING BITCOIN A LOT THE LAST COUPLE OF WEEKS SO I DON"T EXPECT ANY CHANGES. LONG OR SHORT, EITHER WAY YOU WILL HAVE A VERY STRICT SL AND HIGH R/R.
Price is still very strong. Supply and demand. We need the bears to sell in order for us continue our nice momentum back up. It has rejected perfectly in the main previous support zone. This is a safe R/R entry.