Transparentforex
Short-term Sell on AUDCADOverall LONG trend on the pair that needs to be supported by a short-term sell for the rally to continue to the upside.
Market printed a 'W' formation on the Weekly and the SHORT is based on the retracement to the neckline of the structure.
Confluence is further supported by an increase in LONG contracts of Hedge funds in Canadian Dollar, strengthening CAD and more SHORTS and weakening of the Australian Dollar.
FOREXCOM:AUDCAD
Target areas:
SL: 0.94300
TP: 0.88950