Hi Guys,
I would like to share some Thoughts & Opinions & Analysis on AUDCAD pair.
It seems we have ended the bearish short term started around beginning of May 2017.
The price has bounced off its major supporting area around 0.962 with a DT forming a new higher high, then a new higher low.
Bearish downward channel has been already broken.
It would be optimal to wait the breakout of the resistance area 0.9895 to have an additional confirmation.
We can set a BUY LIMIT order to buy at the breakout, setting a 1/2.5 risk-reward.
Hope you enjoyed my analysis, feel free to share your thoughts/ideas/opinions in the comment below!
Cheers,
Sebastiano
I would like to share some Thoughts & Opinions & Analysis on AUDCAD pair.
It seems we have ended the bearish short term started around beginning of May 2017.
The price has bounced off its major supporting area around 0.962 with a DT forming a new higher high, then a new higher low.
Bearish downward channel has been already broken.
It would be optimal to wait the breakout of the resistance area 0.9895 to have an additional confirmation.
We can set a BUY LIMIT order to buy at the breakout, setting a 1/2.5 risk-reward.
Hope you enjoyed my analysis, feel free to share your thoughts/ideas/opinions in the comment below!
Cheers,
Sebastiano