JST94fx

WK22, AUDCAD, Long idea, multi time frame analysis

Long
FX:AUDCAD   Australian Dollar/Canadian Dollar
Daily analysis
The strong resistance zone of 0.913 - 0.914 was finally broken last week after several retests in the last 12 months. The last two days have seen rejection candles entering but closing above this zone.

4H analysis
Price is very close to the top of this resistance zone therefore I will place a buy trade with SL just below the bottom of the zone

Target 1 - 0.92275 (RR: 3.23)
Target 2 - 0.93770 (RR: 8.75)

Comments

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