AUD/CAD - Bearish Forecast
Price has been uptrending for the last couple months but has now reached a bearish TL (long term) and has ended with a head/shoulders pattern and has broken the uptrending TL and is currently consolidating. You can see that price was “absorbed” at decision point rather than a wicked rejection so it can be inferred that price will pull back and then fall. I have a bearish bias on the pair and expecting a pullback near a supply area to initiate long term shorts down to 0.92750.
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