My analysis are based mostly in H4. This week I'll be looking to take a sell on AUDCAD, let me explain why:
Monthly:
Here we have a triangle. We have two days left to close monthly but is closing with a high rejection from the 1.02400 zone, still staying above the large trendline maybe going to the 0.97300, but we can't really say much more.
Weekly:
The same as monthly, it's looking really bearish, respecting the triangle.
Daily:
For more bearish signal, in the daily chart we can see clearly the bullish trendline is broken.
H4:
Like the daily chart in the H4 the bullish trendline is broken is ranging in the 0.99000 monthly S/R line.
I think is more probable for it to go down path B because of break + retest and rejection of the trendline + triangle on the monthly and weekly, but still, anything can happen and it could go up, we'll see.
Monthly:
Here we have a triangle. We have two days left to close monthly but is closing with a high rejection from the 1.02400 zone, still staying above the large trendline maybe going to the 0.97300, but we can't really say much more.
Weekly:
The same as monthly, it's looking really bearish, respecting the triangle.
Daily:
For more bearish signal, in the daily chart we can see clearly the bullish trendline is broken.
H4:
Like the daily chart in the H4 the bullish trendline is broken is ranging in the 0.99000 monthly S/R line.
I think is more probable for it to go down path B because of break + retest and rejection of the trendline + triangle on the monthly and weekly, but still, anything can happen and it could go up, we'll see.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.