Analysis of #AUDCAD
Hi traders, today we will have a look at #AUDCAD
The AUDCAD recently broke its resistance zone, which I suspected would happen due to the recent drop in the oil market, and now it became its support level you can see on my chart.
we now have two levels to look at, first one is the support zone which will be I expect will be a demand level and we can look for abuy the market to show a bullish reaction and provide a reason to get in buy entry.
the second level is near the structure resistance zone which I believe the market will show us a bearish reaction and will be a good level to start looking for a sell entry if the market provided a reason to get in a sell entry
I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one
Thanks for your continued support!
Hi traders, today we will have a look at #AUDCAD
The AUDCAD recently broke its resistance zone, which I suspected would happen due to the recent drop in the oil market, and now it became its support level you can see on my chart.
we now have two levels to look at, first one is the support zone which will be I expect will be a demand level and we can look for abuy the market to show a bullish reaction and provide a reason to get in buy entry.
the second level is near the structure resistance zone which I believe the market will show us a bearish reaction and will be a good level to start looking for a sell entry if the market provided a reason to get in a sell entry
I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one
Thanks for your continued support!
