Two trading opportunities are present on this pair. If Price persists below the previous low, a weak but present downtrend offers a short opportunity.
If price reverses notably however, previous highs offer clear resistance to long positions.
AUCCAD has broken resistance on the daily interval chart and has also established a downward trend with LLs and LHs.
Looking for a pullback to establish a new LH and then short entry opportunity to catch the developing downtrend.
EUR/CAD has recently broken historical (2020) resistance and is showing uncertainty in price movement. If a downtrend can be established with further LH/LL, this may provide opportunity for a number of short positions in the coming weeks. Weekly chart shows an established downtrend.
I am looking for another wave to show some certainty in price direction and then...