AUDCAD: Bullish momentum is slow
Updated
Hi traders,
On the AUDCAD I'm looking to enter short based on this price movement. We have a nice bearish impulsive move, that dropped 65 pips in 22 bars. The retracement is 41 pips in 62 bars. This all indicates that the bears are in control.
We also had a nice rejection off of the 61.8% Fibonacci retracement.
Target 1: 1.01925
Target 2: 1.01750
Good luck traders!
On the AUDCAD I'm looking to enter short based on this price movement. We have a nice bearish impulsive move, that dropped 65 pips in 22 bars. The retracement is 41 pips in 62 bars. This all indicates that the bears are in control.
We also had a nice rejection off of the 61.8% Fibonacci retracement.
Target 1: 1.01925
Target 2: 1.01750
Good luck traders!
Trade closed: target reached
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