Greetings !.On my previous AUDCAD analysis, I was expecting the market to break the 0.8770 support when it retested it in early July. Here is the analysis
Last week the market made new lows to the 0.8770 zone before going back up to retest the broken support. On the faster TF the market is forming Multiple shooting star candles which shows that price is being rejected at this zone, and there may be more downside in the coming days/ weeks.
Last week the market made new lows to the 0.8770 zone before going back up to retest the broken support. On the faster TF the market is forming Multiple shooting star candles which shows that price is being rejected at this zone, and there may be more downside in the coming days/ weeks.
Note
Multiple shooting stars forming on the daily TF as price is retesting the 0.8800 support, a strong signal of more downside to come !Note
Price closed well below the the 0.8770 support, confirming the breakout and more downside to come !Note
Look at that ! Beautiful work ! 7O PIPS ON BREAKOUT !Note
The 0.8750 support was broken and retested with a shooting star on the Daily TF, a very strong indication of more downside to come !Note
AUDCAD retesting the 0.8800 broken support before moving lower !Note
Shooting stars on the H4, Daily and Weekly TF !Note
After retesting the 0.8800 broken support, the downtrend resumes on the daily TF, with the daily candle dropping more than 100 PIPS to 0.8700.Note
150 PIPS ON THE TREND !
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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.