AUDCAD TECHNICAL ANALYSIS AND POSSIBLE POSITION OPENING
AUDCAD is still on a bullish weekly trend, so its possible that it might revisit previous high. The pair failed to break completely and form a bearish continuation, so if a new solid support forms a i will open a new Buy position for a 1:2 risk reward. I WILL OPEN POSITION ONLY AT THE RETEST OF 0.89220 KEY LEVEL.
Order cancelled
We didn't have a clear retest of the key level 0.89220, even if the pair managed to break through there wasn't any retest of the support, instead it failed to hold, so i will wait for better entries.Trade active
Still bullish on AUDCAD, the pair didn't manage to form a lower low. Trade is still active. If we see a good retest on 0.89200 i would enter for a buy.
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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.