benjamintrades
Short

AUDCAD Short to the demand area.

FX:AUDCAD   Australian Dollar/Canadian Dollar
Some more ideas on AUDCAD .

✓ - High test signalling turn in the market.
✓ - Descending trend line used as resistance.
✓ - Psychological level
✓ - Stopped out the early entering bears that shorted the trend line
✓ - Lower high printed on 1HR time frame

Have been expecting so see some downside movement here. AUD looks as though it’s going to start dropping against most other currencies. I’m hoping we’ve wiped out most of the bears with their stops at 0.9000 due to the high test. I shall be waiting on the close tonight for confirmation of this. I’ll be shorting this down to 0.8800.

Comments

Hi, Im new fx, and my technical analysis is coherent with yours, however on the trading view, the oscillators and the moving averages are suggesting to go long and this has left me in a confused state. I was wondering if you could shed some light on this matter
Reply
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