OANDA:AUDCAD   Australian Dollar/Canadian Dollar
Here we have a double top formed on a 4 hour keeping inside a strong bearish rectangle . Level 0.98654 has not been broken and respected perfectly creating this formation, also strong convergence with the RSI and Stoch . If the 50% Fib level is broken at 0.98048 I will be looking at shorting this to around 0.97205 support level . It is also visible that it is being squeezed slowly into a descending triangle so I will also be watching to see if this breaks to the upside if the squeeze continues. I would say this is a short term trade to that 0.97205 level for some nice pips and then re-evaluate for a possible long. AUD unemployment rate is due so very wary of that, but at the moment looking good!

All feedback is much appreciated!

J
Feedback good or bad is always welcome!

Trade Safe,

J
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out