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AUD/CAD Potential Upward Movement

AUD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 094090, 0.94287, 0.95000.

Key Support Levels: 0.93683, 0.93727, 0.93604.

1-Hr Frame:

The price on the higher time frame could not continue its move to the downside and faced a strong resistance which led to the formation of the double bottom pattern in a form of a higher low. A reversal occurred and a series of lower highs and lows has been posted where further movement to the upside could be seen.

AUD/CAD Medium-Term Trend: Bullish

10-Mins Time Frame:

On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a higher low formation. A lower correction has been posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 0.93894

Target Profit 1 @ 0.94090

Target Profit 2 @ 0.94287

Stop Loss @ 0.93698

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

7 comments

  1. Why has Take profit been reported when all of us are waiting for our trade to start?

  2. How did you guys take profit when none of our trades have started?

  3. Tp1 and tp2 are same?

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