AUDCAD is consolidating in an Ascending Triangle above .90 level.
This large round number isn't broken so easily.
Short Bias
1. 200 MAV - price is beneath.
2. Confluence 20/50 - confirming bearish price action
3. Triangles - Ascending triangle forming above Support . On a HTF this is a down leg of a much larger Triangular Consolidation.
4. Order Flow - bearish , with likely Drop - Base - Drop pattern looking for the first unmitigated
Supply Zone just above .89.
5. Momentum - below 50
A confirmed break of 90 leads to 89.
This large round number isn't broken so easily.
Short Bias
1. 200 MAV - price is beneath.
2. Confluence 20/50 - confirming bearish price action
3. Triangles - Ascending triangle forming above Support . On a HTF this is a down leg of a much larger Triangular Consolidation.
4. Order Flow - bearish , with likely Drop - Base - Drop pattern looking for the first unmitigated
Supply Zone just above .89.
5. Momentum - below 50
A confirmed break of 90 leads to 89.
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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.
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.