Breaking News

AUD/CAD Potential Upward Movement

AUD/CAD Potential Upward Movement

Key Resistance Levels: 0.94202, 0.94296, 0.94420.

Key Support Levels: 0.94096, 0.94025, 0.93906.

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. An engulfing bullish pattern has been left near the demand zone which led to a move higher.

AUD/CAD Medium-Term Trend: Bullish

Chart, histogram Description automatically generated

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 could be posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 0.94108

Target Profit 1 @ 0.94202

Target Profit 2 @ 0.94296

Stop Loss @ 0.94014

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.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!

Free Robot!