Looking for a long entry on AUDCAD. Just waiting for one more sweep of sell side liquidity and a sign of reversal on the line indicated.
I will enter the short trade if the price doesn't break the level indicated on the chart.
A possible entry if the pair goes up to get some liquidity before continuing its downward direction.
Asian session might be a continuation move downward after sweeping buy side liquidity
EURUSD has a decent retracement during the Asian session and when you look at the 5 minute chart it is forming a lower low. A retracement on the 1.09050 level is a good entry for a sell with a target of 1.08850 and a 1:2 risk reward ratio.
In my opinion, EURUSD is looking to retrace before aiming for the highs forming a very nice cup and handle formation.