Hello traders and welcome! Today, let's take a look at the AUD/CAD daily chart, presenting a promising trading opportunity.
The price on its daily chart has formed a U-shaped price action structure, representing a Cup and Handle pattern. Currently, the price is trading below the breakout level, which is at 0.90567.
Stops are set at 0.89678 to manage risk effectively.
Target Zone 1:
62% AB: 0.93610
79% AB: 0.94437
Note
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.
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.