Hello, everyone!
AUD/CAD is growng from the bottom of a broadening channel and we can see a clear pattern historically.
The pair is creating a new channel after testing support or resistance of broadening channel.
Additionally, RSI is in oversold condition and the same situation was at the last time the pair tested the resistance of this channel.
So, I expect the new period of growth cycle now. The growth will be more obvious after breking a descending channel at 0.8980 and a resistance area at 0.9021.
Entry: 0.8967
SL: 0.8890
TP: 0.9240
AUD/CAD is growng from the bottom of a broadening channel and we can see a clear pattern historically.
The pair is creating a new channel after testing support or resistance of broadening channel.
Additionally, RSI is in oversold condition and the same situation was at the last time the pair tested the resistance of this channel.
So, I expect the new period of growth cycle now. The growth will be more obvious after breking a descending channel at 0.8980 and a resistance area at 0.9021.
Entry: 0.8967
SL: 0.8890
TP: 0.9240
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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.
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.