AUDCAD Ascending Triangle
AUDCAD appears to be forming an ascending triangle on the 4H timeframe, indicating that there may be further upside potential for the pair. Bulls should ideally wait for a break and retest of the resistance zone of the ascending triangle before looking to go long, as this presents a safer, more conservative approach. Furthermore, AUDCAD has been following along a supportive trendline, which price is currently at, thus making the long opportunity more attractive. A stop loss can be placed a few pips below the supportive trendline.
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Best of luck traders!
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