OBSERVATION: After hitting monthly resistance price fell to daily support which confluences with the ascending trendline that has been acting as support since June. A break below could see price drop to 0.74400s then 0.73400s while a bounce will see prices rise back to resistance.
Currently short usdcad after showing inside candle on the four hour and shooting star on 2 hour time frames around a descending trend line which could be a strong barrier for this pair as it is currently bearish in my opinion. Targeting 1.3000 lows
On the daily timeframe of AUDCAD, counter trend signal starts to form. On the smaller timeframes of AUDCAD the price has already changed its trend direction: there was a breakdown of “Alligator`s” MA and MA50.