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Australian Dollar/Canadian Dollar
Long

AUDCAD BUY- 70+ pips?

By mbarbar
Updated
snapshot

Once again with my favourite strategy, we have spotted a potential appreciation of AUDCAD:
• 3 MA's cross inside the bullish candlestick .
• RSI crosses from under 50 to over 50 in the candlestick where the 3 MA's touch.
• All while the Ichimoku convergence line crosses the base line during that candlestick .
• Additionally, negative MACD decreasing, looking like it is reversing, with the fast EMA drifting away from the slow EMA .
• Only factor that does not go in our favour here is the fact that we are opening a long under the ichimoku cloud.

We could expect AUDCAD to appreciate over the next 7-8 hours.

My entry: 0.89744
TP1: 0.9010
TP2: 0.9045
SL: 0.8918

This is my view, do share your insights!
Trade active
TP1: 0.9010 hit.
analysisAUDCADaudcadanalysisaudcadlongaudcadsetupForexforexlongTechnical IndicatorsLONGtradeTrend Analysis

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