Outlook on this pair, price is coming down to a major zone of buy orders, will be looking to see how price reacts when it reaches this zone. if we see rejection we will react immediately. if price moves down further a pullback can be expected to retest the zone.
usdcad is in an interesting major resistance zone, so there is potential for downward movement from here. I am using higher time frame for this pair specifically to determine when to enter. waiting for a strong price action signal before entering short. of course there is always a chance will move upward.
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aud/usd has some interesting price action right now. price broke an uptrend line and is in a major zone. we will be looking for certain things to happen before taking on a trade. there is always potential for price to move upwards so we will keep that in mind incase we see some bullish movement out of the zone
I have a good analysis showing that this pair will proceed to go downward toward the fib base level, this is shown by price action, moving averages and also stochastics. I always use 3:1 reward/risk ratio and ill be implementing that on this trade.