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AUD/CAD Potential Upward Movement

AUD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.90725, 0.90943, 0.91000.

Key Support Levels: 0.90372, 0.90257, 0.90177.

1-Hr Time Frame:

The price on the higher time frame posted a double bottom pattern and moved to the upside where it succeeded to break the bearish trendline to the upside. The market as well managed to break a strong resistance line around the 0.90373 CAD mark which could lead to a further movement to the upside.

AUD/CAD Medium-Term Trend: Bullish

15-Mins Time Frame:

On the lower time frame, the buyers succeeded to move the price higher every time it reaches the bullish trendline. A series of higher highs and lows has been posted signaling that we are in a clear upward movement. A lower correction could be seen before a new bullish impulsive wave.

Buy Market Order @ 0.90386

TP 1 @ 0.90725

TP 2 @ 0.90943

Stop Loss @ 0.90218

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.

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