The Australian Dollar vs. the Canadian Dollar. Both of these currencies are regarded as commodity currencies and are considered to be a relatively stable currency pair. The CAD fortunes are closely related to the U.S. because it is their largest trading partner and neighbor. The AUD is more effected by its alignment with Australia and emerging Asian markets.
it has hit its resistance and I've been looking for the confirmation, since we can expect the price to retrace in the downwards fashion as you zoom out in day mode, you can see the bearish trend... in 1hr, 4hr and 1day we can expect it to go down.
If we see a close at or beyond the current level, then I will engage in a Buy set up. R:R is 2:1. Pull back requires and stop loss is 5 pips below the lowest candle in the 2 x candle signal, which in this case is the low of the black candle.
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 ...
HERE IS MY THOUGHT THINK A BAT PATTERN WILL FORM AND THEN MARKET WILL GO SOUTH. JUST A THOUGHT PLEASE FEEL FREE TO CORRECT ME OR TIME WILL
HAPPY TRADING :)
We see a small uptrend be very carefull doing a day long on here as the climb is most likely to be taken out by a single candle drop live shows in the start of the chat.
