AUDCAD triangle forming on the daily
Hi all,
On the AUDUSD we can clearly see a triangle forming.
I am expecting one of four things to happen:
1: A breakout to the upside, followed by a direct move up
2. A breakout to the upside, followed by a small move up and then a retracement back down to the trendline. From here the price should bounce and go up again
3: A breakout to the downside, followed by a direct move down
4: A breakout to the downside, followed by a small move down and then a retracement back up to the trendline. From here the price should bounce and down up again
Best of luck!
On the AUDUSD we can clearly see a triangle forming.
I am expecting one of four things to happen:
1: A breakout to the upside, followed by a direct move up
2. A breakout to the upside, followed by a small move up and then a retracement back down to the trendline. From here the price should bounce and go up again
3: A breakout to the downside, followed by a direct move down
4: A breakout to the downside, followed by a small move down and then a retracement back up to the trendline. From here the price should bounce and down up again
Best of luck!
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