Potential short opportunity on the AUDCAD for 50/60poips next week. Price is seen drawing towards confluence 0.90325 area in a descending channel formation.
Suggest to narrow down to LTF to look for good SHORT entry setups to TARGET AREA. Price may also push further down depending on Current CAD index strength and any other fundamentals that supports the CAD & USD (correlated) or could just take a BOUNCE from there. Eager to see what happens around the confluence area and play along with PA. Buying Opps could play next.
SLIGHTLY BEARISH OUTLOOK.
Suggest to narrow down to LTF to look for good SHORT entry setups to TARGET AREA. Price may also push further down depending on Current CAD index strength and any other fundamentals that supports the CAD & USD (correlated) or could just take a BOUNCE from there. Eager to see what happens around the confluence area and play along with PA. Buying Opps could play next.
SLIGHTLY BEARISH OUTLOOK.
Note
Didn't play out as expected. Maybe it would but both AUD and CAD (both commodity currencies) indexes were battered in the week.2/3 wins for the week under review. CHFJPY, NZDUSD.
Note
Eventually and at last price visited confluence zone.Note
Buy Scalp Opportunities up to upper channel line. 
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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.