AUDCAD Short Opportunity
Hello trader !
As you can see,price has made a bat harmonic pattern. We are now at a resistance level and I expect a rejection. After elections we are in "RISK ON" scenario. That means,that safe heavens like JPY and CHF are going to decrease on their value but commodity currencies like AUD,NZD and CAD are going to increase on their value. In this case we have two commodity currencies so we need to look at a price action. Be careful because fundamentals are really strong these days.
Good luck and thank you for reading !
As you can see,price has made a bat harmonic pattern. We are now at a resistance level and I expect a rejection. After elections we are in "RISK ON" scenario. That means,that safe heavens like JPY and CHF are going to decrease on their value but commodity currencies like AUD,NZD and CAD are going to increase on their value. In this case we have two commodity currencies so we need to look at a price action. Be careful because fundamentals are really strong these days.
Good luck and thank you for reading !
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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.