On the daily timeframe we see that the price started the week with a rejection from the weekly support zone and two days later broke the daily down-trendline with a super bullish candlestick.
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On the 4-hour timeframe we identified an inverse head and shoulders pattern.
We are now waiting for a close above the 4-hour resistance zone, a pullback and retest, plus a candlestick pattern to occur so we can consider opening a long position on AUDCAD pair this week.
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On the 4-hour timeframe we identified an inverse head and shoulders pattern.
We are now waiting for a close above the 4-hour resistance zone, a pullback and retest, plus a candlestick pattern to occur so we can consider opening a long position on AUDCAD pair this week.
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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.