AUDCAD 6/16/2020
Updated
Hello and welcome to this analysis on AUD against CAD.
AUDCAD looks like is ready to continue its uptrend.
Looking at the chart it seems like it has made a Bull Flag continuation pattern which just got activated by a break and close above the diagonal resistant of a pattern.
The next level of resistance is the red box at 0.96 ish which can be a good target. Price can get to that level as long as it stays above 0.933.
The momentum indicators also look fresh and good for the continuation of the trend. There is not any sign of weakness in the trend yet.
This trade Idea has 3 rewards to risk ratio.
Good luck trading.
AUDCAD looks like is ready to continue its uptrend.
Looking at the chart it seems like it has made a Bull Flag continuation pattern which just got activated by a break and close above the diagonal resistant of a pattern.
The next level of resistance is the red box at 0.96 ish which can be a good target. Price can get to that level as long as it stays above 0.933.
The momentum indicators also look fresh and good for the continuation of the trend. There is not any sign of weakness in the trend yet.
This trade Idea has 3 rewards to risk ratio.
Good luck trading.
Trade closed: stop reached
Note
-1R
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