AUDCAD - The Symmetrical Triangle Predicts a Dive to 0.83000
AUDCAD - The Symmetrical Triangle Predicts a Dive to 0.83000
1. Price Formation: The price has broken down from a symmetrical triangle price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is barely below the 21-day MA, which is a positive sign indicating short-term bullish momentum.
3. 200-day Moving Average: The 200-day MA is above the price.
4. Relative Strength Index (RSI): The RSI is greater less than 50, indicating bearish momentum and potential downward movement.
5. Price Target: 0.83000
1. Price Formation: The price has broken down from a symmetrical triangle price formation on a daily chart.
2. Moving Averages: The 7-day moving average (MA) is barely below the 21-day MA, which is a positive sign indicating short-term bullish momentum.
3. 200-day Moving Average: The 200-day MA is above the price.
4. Relative Strength Index (RSI): The RSI is greater less than 50, indicating bearish momentum and potential downward movement.
5. Price Target: 0.83000
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